Within his freshly published personal account, called Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that chaotic era of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis as the finance minister mainly because of the latter's global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more like a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras claims that Varoufakis had a personal motives which involved promoting his books as well as testing out his economic models on the nation rather than truly fighting for its economic stability.
Tsipras wrote how those discussions to avoid insolvency became “not just a way to secure improved terms for Greece. They were an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came perilously close to leaving the eurozone.
At stake lay both the country's destiny and those harsh austerity policies demanded in exchange for financial aid by foreign lenders.
Failed Options
Efforts to find financing from other sources, such as a desperate appeal to Russia 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 his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the punitive conditions were put to a public vote, a move which plunged the EU into a further existential crisis.
Although the vote was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, the leader knew that it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras also claimed that Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The account of history has provoked fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
