In a freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, Tsipras chose the unorthodox economist Yanis Varoufakis as the finance minister mainly because of the latter's global profile along with his highly compelling skills when it came to public orator.
“He was, truthfully, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal agenda which included promoting Varoufakis's books as well as experimenting with his theories using Greece instead of genuinely fighting for the country's financial survival.
Tsipras noted that those discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's future but also the severe cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal from creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency and issuing coupons to retirees, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
