In a recently unveiled personal account, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits that chaotic period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis as his finance minister primarily due to his global profile along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had a personal motives which included promoting Varoufakis's publications as well as testing out his own game theories on Greece instead of genuinely advocating the country's economic stability.
Tsipras wrote that the negotiations to prevent bankruptcy became “not only a method to secure improved terms for the country. They became a test, an historic chance to prove the truth of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line lay both Greece's destiny and those punishing austerity policies demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move which plunged the EU into further crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
He further claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were advocating Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
