In a recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, he appointed that unorthodox economist Yanis Varoufakis as his finance minister largely because of his international reputation along with his “extremely attractive” skills as a public orator.
“He was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had a personal motives which involved promoting Varoufakis's books as well as testing out his own economic models using the nation rather than truly fighting for its economic stability.
He explained how those talks to prevent bankruptcy were “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line was not only Greece's destiny and the harsh austerity measures required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He also wrote how his confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for Grexit.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
