Within his newly released memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, he appointed that unorthodox economist Yanis Varoufakis to be the finance minister mainly because of his worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more like a star and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed a personal motives which involved promoting his books as well as testing out his game theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras noted that those negotiations to avoid insolvency became “not just 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 volatile discussions, Greece came perilously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny but also the severe austerity measures required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were put to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras also claimed that his confrontational approach left him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for Grexit.
The account of events has been met with anger and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
