Within his newly released personal account, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the turbulent era during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, he selected that maverick economist Yanis Varoufakis to be his finance minister largely because of his global profile and his very persuasive skills when it came to communicator.
“He was, in reality, more of a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief possessed a personal motives that included advancing his books as well as experimenting with his economic models using the nation rather than truly advocating the country's financial survival.
He explained that the talks to stave off bankruptcy were “not only a method of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both the country's future and those harsh austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be 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 punitive bailout terms were put to a popular referendum, an action which threw Europe into further crisis of identity.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
He further claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
