In a recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines the turbulent period during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, he appointed that maverick economist Yanis Varoufakis as the treasury head primarily because of his global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had a personal motives that included advancing his publications and testing out his economic models on the nation instead of genuinely advocating the country's financial survival.
Tsipras explained that the discussions to avoid insolvency were “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously close to exiting the single currency area.
On the line lay both Greece's destiny and the severe austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action which threw Europe into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal from creditors which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed how his aggressive style made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
