Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on the chaotic era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, he selected that unorthodox economist Yanis Varoufakis to be his finance minister largely due to his global profile along with his “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal agenda that included advancing Varoufakis's books and testing out his own game theories on Greece instead of truly advocating the country's financial survival.
Tsipras noted how those talks to stave off bankruptcy became “not just a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both the country's destiny but also those harsh austerity policies demanded in return for financial aid by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the punitive conditions were subjected to a popular referendum, an action that threw the EU into a deeper existential crisis.
Even though the vote was won decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and negotiate a bailout package with creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
This account of history has been met with anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
