In a recently unveiled personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines the chaotic period of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, he selected that unorthodox academic Yanis Varoufakis to be his finance minister mainly because of the latter's global profile along with Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief possessed a personal agenda that included advancing Varoufakis's books and experimenting with his own theories using the nation rather than genuinely fighting for the country's financial survival.
Tsipras wrote how those negotiations to stave off insolvency became “not only a method to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's theories.”
Critical Talks
During tense discussions, Greece came perilously close to leaving the eurozone.
At stake was not only Greece's future and those severe austerity policies demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the excoriating bailout terms were subjected to a public vote, an action which threw Europe into further existential crisis.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of events has been met with anger and shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
