Within his newly released personal account, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines that chaotic period of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras appointed that maverick academic Yanis Varoufakis to be his finance minister mainly because of the latter's worldwide fame along with his “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how Varoufakis possessed a personal motives that involved promoting Varoufakis's books as well as testing out his economic models on the nation instead of truly advocating the country's economic stability.
He noted how the negotiations to stave off insolvency became “not only a method to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his economic theories.”
Critical Talks
During rollercoaster discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only the country's destiny and the harsh cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts how his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”
He further wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with shock in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
