Within his recently unveiled personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as his finance minister largely because of his worldwide fame and his highly compelling skills when it came to communicator.
“In reality, he was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed his own motives which involved promoting his books and experimenting with his own theories using the nation rather than truly fighting for the country's economic stability.
He noted how the negotiations to prevent insolvency were “not only a way of achieving improved terms for Greece. They were a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously close to leaving the single currency area.
On the line lay not only the country's future but also the severe cutbacks demanded in exchange for rescue loans from international creditors.
Failed Options
Efforts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action which plunged Europe into further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, Tsipras was forced to ignore the result then agree to a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
He also wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating Grexit.
This account of history has been met with anger and shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
