Within his recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines the chaotic period during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose that unorthodox academic Yanis Varoufakis as the finance minister primarily due to the latter's global profile along with Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis had a personal motives which included promoting Varoufakis's books and experimenting with his own game theories using Greece instead of genuinely advocating the country's financial survival.
Tsipras noted how the negotiations to stave off bankruptcy became “not only a method to secure a better deal for the country. They were a test, an historic chance to demonstrate the validity of his ideas.”
Critical Negotiations
Amid tense negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake lay both the country's future and the severe austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, an action which plunged the EU into a further crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to ignore the result and agree to a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras further wrote that his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
This 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.
