In a recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's recollections, he selected that unorthodox economist Yanis Varoufakis as the finance minister primarily due to his global profile and Varoufakis's “extremely attractive” abilities as a communicator.
“He was, actually, more like a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis possessed his own motives which involved advancing his books as well as testing out his game theories using Greece instead of genuinely fighting for its economic stability.
He explained that those negotiations to stave off bankruptcy were “not just a method to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came perilously close to leaving the single currency area.
At stake was not only Greece's future but also the severe austerity policies demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself “unfit for a deal that required intricate and delicate management.”
He further claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
The account of history has provoked anger and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
