In a newly released personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis as the treasury head primarily because of his global profile along with his highly compelling abilities as a public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had his own motives which involved promoting his books as well as testing out his own game theories on the nation instead of genuinely advocating its economic stability.
He explained how the discussions to stave off bankruptcy became “not just a way to secure improved terms for the country. They became a test, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both Greece's future but also the harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move which threw Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result and agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unfit for an agreement that required complex and delicate handling.”
He further wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks who were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
