Within his recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis to be the treasury head largely due to his international reputation along with his very persuasive abilities as a communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims that his finance chief possessed a personal motives which involved advancing Varoufakis's books and experimenting with his own theories using Greece instead of genuinely advocating the country's financial survival.
He wrote that the discussions to prevent bankruptcy were “not just a method to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake lay both the country's future but also those punishing cutbacks required in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were put to a public vote, an action which plunged the EU into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result then agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras further wrote that his aggressive approach made him more and more alone among peers, endangered the country, and helped hardliners who were pushing for Grexit.
This retelling of history has been met with fury and shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
