Within his newly released personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits that turbulent period of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis as the treasury head largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, in reality, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis had a personal agenda which included promoting his publications as well as experimenting with his own game theories on the nation rather than genuinely fighting for the country's financial survival.
Tsipras explained how the negotiations to prevent bankruptcy were “not only a way to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself perilously close to exiting the eurozone.
At stake lay both Greece's future and those punishing austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
