Within his freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on that chaotic era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, he selected that unorthodox academic Yanis Varoufakis as his finance minister mainly because of his global profile and his very persuasive abilities when it came to communicator.
“He was, in reality, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had his own motives which involved promoting his publications as well as experimenting with his game theories on the nation instead of truly advocating its economic stability.
Tsipras wrote that the discussions to prevent bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also those harsh cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move which threw Europe into further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and distributing vouchers to retirees, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
He further wrote that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury and shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
