Within his recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that chaotic era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, Tsipras selected the maverick academic Yanis Varoufakis as the treasury head largely because of his international reputation along with his very persuasive abilities as a communicator.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own motives that included advancing Varoufakis's publications as well as testing out his own economic models using the nation instead of truly fighting for the country's economic stability.
Tsipras wrote that those discussions to prevent bankruptcy became “not only a way to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
During volatile negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake was not only Greece's future and the punishing cutbacks demanded in return for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action which plunged Europe into further crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, Tsipras had little option but to ignore the result then agree to a bailout package with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy that included creating a parallel currency and distributing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and helped hawks that were pushing for Grexit.
The retelling of history has been met with fury and shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
