In a recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras does not hold back while he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, he appointed that unorthodox academic Yanis Varoufakis as his finance minister mainly because of his worldwide fame along with his “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal motives which involved promoting his publications and testing out his economic models using Greece instead of genuinely advocating the country's economic stability.
He wrote how those talks to avoid insolvency became “not only a way of achieving a better deal for the country. They became an experiment, a monumental chance to prove the validity of his economic theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
On the line was not only the country's future but also the severe austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, the excoriating conditions were put to a popular referendum, an action that plunged the EU into deeper existential crisis.
Even though the vote was won resoundingly by voters against austerity, Tsipras was forced to ignore the result then negotiate a bailout package with creditors that proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The account of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
