In a recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis as the finance minister primarily due to the latter's global profile along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, actually, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis had his own motives which included promoting his publications as well as testing out his economic models using the nation instead of truly advocating its economic stability.
Tsipras explained how those talks to stave off insolvency were “not just a way to secure improved terms for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During volatile discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake lay not only the country's future and those severe austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
That summer, the harsh conditions were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package with creditors that turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He also claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for Grexit.
This retelling of history has been met with fury and shock among certain groups, while the former minister has maintained a deafening silence on the matter.
