In a recently unveiled personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits the chaotic period of Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his treasury head mainly due to his global profile along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal motives which included promoting Varoufakis's publications as well as testing out his own economic models using Greece instead of truly fighting for its financial survival.
Tsipras explained that those discussions to stave off bankruptcy became “not just a method to secure a better deal for the country. They were an experiment, a monumental chance to prove the validity of his economic theories.”
High-Stakes Talks
During volatile negotiations, Greece came perilously on the brink of leaving the eurozone.
At stake was not only Greece's destiny but also those harsh austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action that plunged the EU into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced to reject its outcome and agree to a rescue deal with creditors that proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
He further wrote that his confrontational style left him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
The account of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
