In a newly released memoir, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis to be his treasury head primarily because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal motives that included advancing his books and experimenting with his own game theories on Greece instead of truly fighting for the country's financial survival.
He wrote that those negotiations to prevent insolvency were “not only a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay not only Greece's destiny but also those harsh austerity measures demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a public vote, an action which plunged Europe into a further crisis of identity.
Even though the vote was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package from creditors which turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras also wrote how Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
