In a freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's version, he appointed the maverick academic Yanis Varoufakis to be his finance minister mainly due to his global profile and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief had a personal motives which involved promoting his books and testing out his game theories on the nation instead of truly fighting for its economic stability.
Tsipras explained that those negotiations to prevent insolvency became “not only a way of achieving a better deal for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay not only the country's future but also those severe austerity measures demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, 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 that included establishing a parallel currency and issuing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
He further claimed that his confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger and shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
