Within his freshly published personal account, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, he appointed that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his international reputation and his very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis had his own motives which involved advancing Varoufakis's books and testing out his own theories using the nation instead of genuinely advocating the country's financial survival.
He noted how those talks to avoid bankruptcy were “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake lay both the country's destiny but also the severe austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters against the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal from creditors which turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author asserts that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further wrote that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
