Within his newly released memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits that turbulent period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras appointed that maverick academic Yanis Varoufakis to be his finance minister mainly because of the latter's worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief had his own agenda which involved promoting Varoufakis's publications and testing out his theories using Greece instead of genuinely advocating the country's financial survival.
He noted how the negotiations to stave off bankruptcy became “not only a way to secure improved terms for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also those harsh austerity policies required in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action which plunged the EU into further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras further claimed how his aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
