In a newly released personal account, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines that chaotic period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis to be his finance minister largely due to the latter's international reputation and his highly compelling abilities when it came to communicator.
“He was, truthfully, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed a personal agenda that included advancing Varoufakis's publications as well as experimenting with his own economic models on the nation instead of truly advocating the country's financial survival.
He wrote that those discussions to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They were a test, an historic chance to demonstrate the validity of his ideas.”
Critical Negotiations
During tense negotiations, Greece came dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and those punishing cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move which threw the EU into a further existential crisis.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced but to reject its outcome and agree to a rescue deal from creditors which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself “unfit for a deal that required intricate and delicate handling.”
Tsipras further claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
