In a freshly published personal account, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines the chaotic period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the finance minister mainly because of the latter's worldwide fame and his highly compelling abilities when it came to speaker.
“He was, actually, more of a star rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed a personal agenda that included advancing his publications as well as testing out his game theories using Greece instead of genuinely advocating the country's financial survival.
Tsipras noted that those discussions to avoid bankruptcy were “not just a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
At stake was not only Greece's future but also those harsh cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were put to a public vote, an action which threw Europe into a deeper existential crisis.
Although the vote was carried decisively by voters against austerity, Tsipras had little option to ignore the result and agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate management.”
He also wrote that his confrontational style made him more and more alone among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
