Within his freshly published personal account, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, he selected that maverick economist Yanis Varoufakis to be his finance minister mainly because of his international reputation along with his highly compelling abilities as a speaker.
“He was, actually, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis had his own agenda which involved advancing his books and experimenting with his game theories on the nation instead of truly fighting for its economic stability.
He wrote that those discussions to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
During volatile discussions, Greece came dangerously on the brink of leaving the single currency area.
On the line was both the country's future but also those harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, those harsh conditions were subjected to a public vote, an action that threw Europe into a further existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras had little option to reject its outcome then negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts that his former ally had proved himself “unfit for a deal demanding complex and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger along with shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
