In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, he selected that unorthodox economist Yanis Varoufakis as his finance minister primarily because of his worldwide fame and Varoufakis's very persuasive abilities as a communicator.
“He was, truthfully, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had his own motives that included promoting Varoufakis's books as well as testing out his theories using Greece rather than genuinely fighting for its financial survival.
He noted how the negotiations to avoid bankruptcy were “not just a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
During tense discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was not only Greece's destiny but also the severe austerity policies required in return for bailout funds by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive bailout terms were put to a popular referendum, an action which threw Europe into further crisis of identity.
Even though the vote was carried decisively by those against the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The account of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
