In a recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, he selected that maverick academic Yanis Varoufakis as his finance minister mainly due to his international reputation along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief possessed his own motives which included promoting his books as well as testing out his own theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras explained that the talks to prevent insolvency became “not just a way of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, the country found itself dangerously close to exiting the single currency area.
At stake lay both Greece's destiny but also the harsh austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw Europe into further existential crisis.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
