Within his freshly published personal account, called Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits that chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, he appointed the maverick economist Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis possessed a personal agenda which included advancing his books as well as experimenting with his own theories using the nation instead of genuinely advocating its financial survival.
He noted that the negotiations to prevent bankruptcy were “not just a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny and the punishing austerity policies demanded in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the excoriating bailout terms were put to a public vote, a move that plunged the EU into a deeper existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal with creditors which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unfit for a deal demanding intricate and delicate handling.”
He also wrote that his aggressive approach made him more and more alone among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
