In a recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on that turbulent era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he chose the unorthodox academic Yanis Varoufakis to be his finance minister primarily because of his international reputation along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a personality and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own motives which included promoting Varoufakis's publications as well as testing out his own economic models on the nation instead of truly advocating its economic stability.
Tsipras noted that the talks to avoid insolvency were “not just a way to secure improved terms for the country. They became a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During tense discussions, the country found itself perilously on the brink of leaving the single currency area.
At stake was not only Greece's destiny but also those punishing cutbacks demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a public vote, a move that plunged Europe into a further existential crisis.
Although the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a rescue deal with creditors which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This account of history has provoked fury and shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
