In a recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines that chaotic era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed that maverick academic Yanis Varoufakis to be the finance minister largely due to the latter's international reputation along with his “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a personality rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed his own agenda that involved promoting his books and testing out his own game theories on Greece rather than truly advocating the country's financial survival.
He wrote how those talks to stave off insolvency became “not only a way to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense discussions, the country found itself perilously close to exiting the eurozone.
On the line was both the country's destiny and the harsh austerity measures demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action that threw Europe into a deeper crisis of identity.
Although the vote was carried decisively by those against the cuts, Tsipras had little option to ignore the result and agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that Varoufakis had proved himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras further claimed how his confrontational style made him more and more alone among peers, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of events has been met with fury and shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
