In a freshly published personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits that chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he selected the unorthodox academic Yanis Varoufakis as his finance minister mainly due to his international reputation along with Varoufakis's very persuasive skills as a public orator.
“He was, truthfully, more like a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis had his own motives which involved advancing his books and testing out his economic models on Greece instead of genuinely advocating its economic stability.
He explained how those negotiations to prevent insolvency became “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his ideas.”
Critical Talks
Amid tense discussions, Greece found itself perilously close to leaving the single currency area.
On the line lay both the country's future and those harsh cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action which plunged the EU into further existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to pensioners, Tsipras knew it was game over questioning him: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He also claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
