Within his newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines the chaotic era of Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's account, Tsipras chose that maverick academic Yanis Varoufakis to be his finance minister primarily due to the latter's global profile and his “extremely attractive” skills when it came to public orator.
“He was, actually, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis possessed his own agenda which involved advancing Varoufakis's books as well as experimenting with his game theories using Greece instead of truly advocating the country's financial survival.
He explained that those talks to prevent bankruptcy became “not just a method to secure improved terms for the country. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's destiny but also the harsh austerity measures demanded in exchange for financial aid from international creditors.
Failed Options
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, Tsipras had little option but to ignore the result and negotiate a bailout package with creditors that turned out to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
