In a newly released personal account, called Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, he selected the unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his international reputation and Varoufakis's “extremely attractive” 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.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own motives that involved advancing his publications and experimenting with his own theories on Greece instead of truly advocating the country's financial survival.
Tsipras noted that those talks to prevent insolvency were “not just a way to secure improved terms for the country. They were a test, a monumental chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line lay both the country's future but also those harsh austerity policies required in exchange for bailout funds from international creditors.
Failed Options
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a popular referendum, a move that threw the EU into deeper crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced to ignore the result and agree to a bailout package with creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
