Within his freshly published personal account, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis to be his finance minister primarily due to his international reputation and Varoufakis's very persuasive skills when it came to public orator.
“He was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis had his own agenda that involved advancing his books and testing out his own game theories on the nation instead of truly advocating the country's financial survival.
Tsipras noted that those talks to stave off bankruptcy became “not just a method to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
During tense negotiations, Greece found itself perilously close to leaving the eurozone.
On the line lay not only Greece's future but also those harsh austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, an action which threw the EU into deeper crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, the leader knew it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate management.”
He also claimed that his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
The account of history has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
