In a recently unveiled memoir, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits that chaotic era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's account, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister primarily due to the latter's global profile along with his “extremely attractive” abilities when it came to public orator.
“He was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own motives which involved promoting Varoufakis's publications as well as experimenting with his own game theories on the nation instead of genuinely advocating the country's economic stability.
He explained that those discussions to stave off insolvency became “not just a way of achieving a better deal for the country. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During tense discussions, Greece came perilously close to exiting the eurozone.
At stake lay not only the country's future but also the severe austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were put to a public vote, an action which plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome then agree to a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
He also claimed that his confrontational approach made him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
