In a recently unveiled personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, he chose the unorthodox academic Yanis Varoufakis to be the treasury head primarily because of the latter's global profile along with his highly compelling skills when it came to speaker.
“He was, actually, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed a personal motives that involved advancing Varoufakis's publications as well as experimenting with his economic models using the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted how those discussions to prevent insolvency were “not just a way to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the single currency area.
At stake lay not only the country's destiny and those severe austerity measures demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, a move that plunged Europe into further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
He also claimed how his aggressive approach left him more and more alone among peers, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
