In a recently unveiled personal account, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's version, Tsipras selected that unorthodox economist Yanis Varoufakis as the finance minister largely due to the latter's international reputation and his highly compelling skills as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis had a personal motives which involved promoting Varoufakis's publications as well as experimenting with his theories on the nation instead of genuinely fighting for the country's financial survival.
He wrote how the talks to prevent insolvency became “not only a way to secure a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During rollercoaster discussions, Greece came dangerously close to exiting the single currency area.
On the line was both Greece's destiny but also those harsh austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, an action which plunged Europe into a further existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote how his aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
This retelling of events has provoked anger along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
