Within his recently unveiled personal account, titled Ithaki, the former leader Alexis Tsipras does not hold back as he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis as the finance minister primarily because of his international reputation and Varoufakis's highly compelling skills as a public orator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had a personal motives that involved advancing Varoufakis's publications as well as testing out his own theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras explained how the negotiations to stave off insolvency became “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was both Greece's future and those harsh cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those harsh conditions were subjected to a public vote, a move which plunged the EU into a deeper crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving creating a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes that Varoufakis had proved himself “unfit for a deal demanding complex and delicate management.”
He also wrote how his confrontational approach made him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
