In a recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, he appointed the maverick academic Yanis Varoufakis as his finance minister largely due to the latter's global profile and his highly compelling skills when it came to speaker.
“He was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had his own agenda that involved promoting Varoufakis's publications and experimenting with his economic models using Greece instead of truly advocating the country's economic stability.
He noted that the talks to prevent insolvency became “not only a method of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line was not only Greece's destiny and the harsh cutbacks demanded in return for bailout funds from international creditors.
Failed Options
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome then agree to a bailout package from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
He further wrote how his aggressive style made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This retelling of history has provoked anger along with shock in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
