In a newly released personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the chaotic era during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, he appointed that unorthodox academic Yanis Varoufakis as his finance minister primarily due to the latter's international reputation and his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief had his own agenda that involved advancing Varoufakis's publications as well as experimenting with his economic models using the nation instead of genuinely advocating the country's financial survival.
He noted how those discussions to avoid insolvency became “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only the country's future but also the harsh austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, a move which plunged the EU into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result and agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and distributing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The account of events has been met with anger and shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
