In a newly released personal account, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, he selected that maverick economist Yanis Varoufakis as his finance minister primarily due to his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, actually, more like a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed a personal agenda which involved advancing his publications as well as experimenting with his theories using the nation instead of genuinely advocating its financial survival.
Tsipras noted that the talks to avoid bankruptcy were “not only a way to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously close to leaving the eurozone.
At stake lay both Greece's destiny and the severe cutbacks demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive bailout terms were subjected to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result then negotiate a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The retelling of events has been met with anger and shock in some quarters, while Varoufakis has maintained a deafening silence on the matter.
