Within his recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines that chaotic era during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he chose that maverick academic Yanis Varoufakis to be his treasury head largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal motives which included promoting his books and testing out his economic models using Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted that those negotiations to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were a test, an historic chance to prove the validity of his economic theories.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line was both the country's future but also the punishing austerity policies required in return for rescue loans from foreign lenders.
Failed Options
Efforts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Although the vote was won decisively by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and delicate management.”
He also wrote how his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.
The account of history has been met with fury along with shock in some quarters, while the former minister has so far maintained a deafening silence on the matter.
