Within his recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines the chaotic era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis to be the treasury head largely because of the latter's global profile and his “extremely attractive” abilities when it came to speaker.
“He was, actually, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives that included advancing his books as well as experimenting with his economic models on the nation rather than genuinely fighting for its financial survival.
Tsipras noted that the talks to avoid insolvency were “not just a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.
At stake was both the country's future and those harsh austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action that threw Europe into deeper existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, the prime minister was forced to reject its outcome then agree to a bailout package with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding complex and sensitive management.”
He further claimed how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
This account of events has been met with anger along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
