In a freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose the maverick academic Yanis Varoufakis to be his finance minister largely due to his global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, actually, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis possessed a personal motives which involved promoting Varoufakis's books and testing out his theories using the nation rather than genuinely fighting for its economic stability.
Tsipras wrote how the negotiations to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became a test, a monumental opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself dangerously close to exiting the single currency area.
On the line lay both Greece's destiny and the punishing austerity measures required in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras also wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
