Within his freshly published personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed that unorthodox academic Yanis Varoufakis as the treasury head largely due to the latter's international reputation along with his very persuasive skills as a speaker.
“He was, in reality, more of a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief had his own motives which included promoting Varoufakis's publications and experimenting with his own economic models using the nation instead of truly fighting for the country's economic stability.
He wrote that those negotiations to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
During volatile discussions, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was not only Greece's future but also the punishing austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were put to a popular referendum, a move which threw Europe into deeper existential crisis.
Although the vote was won decisively by voters against the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further wrote how his confrontational approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
