In a recently unveiled memoir, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits that chaotic era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, he appointed that unorthodox academic Yanis Varoufakis as the finance minister mainly because of his worldwide fame and his very persuasive abilities when it came to speaker.
“He was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal agenda which included promoting Varoufakis's publications and experimenting with his theories using the nation instead of genuinely advocating its economic stability.
Tsipras wrote that those negotiations to prevent insolvency became “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid tense negotiations, the country came perilously on the brink of exiting the eurozone.
On the line was both the country's future and those severe austerity policies required in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced but to ignore the result and agree to a rescue deal with creditors that proved to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive management.”
He also claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
