In a freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines that turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, he chose that maverick economist Yanis Varoufakis as the treasury head mainly because of his international reputation along with his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief had a personal motives that included advancing Varoufakis's publications and testing out his economic models on Greece instead of truly advocating the country's economic stability.
Tsipras noted how the talks to prevent insolvency became “not just a way to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake was both Greece's future but also the harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action which plunged the EU into a deeper existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to ignore the result and negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
