In a recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis as his treasury head mainly because of his worldwide fame along with his very persuasive skills when it came to speaker.
“He was, actually, more of a star rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda that included advancing his publications and testing out his own game theories on Greece rather than truly advocating the country's financial survival.
He noted that the negotiations to avoid bankruptcy were “not only a method to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During volatile negotiations, Greece came dangerously close to exiting the single currency area.
On the line was not only the country's destiny and those punishing austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Attempts to find funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by voters against austerity, Tsipras was forced to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate handling.”
He further wrote how his aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
