Within his freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that turbulent period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's global profile and Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own agenda that included advancing Varoufakis's publications and testing out his own theories on Greece instead of truly advocating the country's economic stability.
Tsipras explained that those negotiations to prevent bankruptcy became “not only a method of achieving improved terms for the country. They were a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was not only Greece's future and those punishing cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the punitive conditions were put to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised it was game over questioning him: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed that his aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
