Within his freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits the turbulent era of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed that unorthodox academic Yanis Varoufakis to be the finance minister mainly due to his worldwide fame and Varoufakis's very persuasive abilities when it came to communicator.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief possessed a personal agenda which included promoting Varoufakis's books as well as experimenting with his theories on Greece rather than genuinely advocating its economic stability.
He wrote how those talks to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Talks
Amid volatile negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was not only Greece's future and those severe austerity measures demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were subjected to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was won resoundingly by voters against austerity, Tsipras had little option to ignore the result then agree to a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive handling.”
He further claimed that his confrontational approach left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
