Within his freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's account, he appointed the unorthodox academic Yanis Varoufakis to be his finance minister mainly because of his worldwide fame along with his highly compelling skills as a speaker.
“He was, actually, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief had his own motives that included advancing Varoufakis's publications as well as testing out his theories on Greece rather than truly advocating its economic stability.
He wrote how those discussions to stave off insolvency were “not only a method of achieving a better deal for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, the country came perilously close to leaving the single currency area.
At stake was not only the country's destiny and the harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, an action that plunged the EU into further existential crisis.
Even though the referendum was carried decisively by those against austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He also wrote that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
