In a recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on that turbulent era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis had a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his game theories using the nation rather than genuinely advocating the country's economic stability.
Tsipras noted how the talks to prevent insolvency became “not only a method to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During tense negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was not only the country's future but also the punishing austerity policies demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the harsh conditions were put to a popular referendum, an action which plunged Europe into deeper existential crisis.
Although the referendum was won resoundingly by voters against austerity, the prime minister had little option to reject its outcome then agree to a rescue deal with foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
In the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
