Within his newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, Tsipras chose that maverick economist Yanis Varoufakis to be his finance minister largely because of the latter's worldwide fame and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own agenda which involved advancing Varoufakis's books as well as experimenting with his economic models on Greece rather than truly advocating the country's economic stability.
Tsipras explained that the talks to stave off bankruptcy were “not just a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During volatile discussions, the country found itself dangerously close to leaving the single currency area.
At stake was not only Greece's future and those severe austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM 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 publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy that included creating a secondary currency and issuing coupons to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This account of events has provoked anger and shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
