In a recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he appointed that unorthodox academic Yanis Varoufakis to be his finance minister mainly due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis had his own motives which involved promoting Varoufakis's books and experimenting with his own economic models using the nation rather than truly advocating its financial survival.
Tsipras noted that the negotiations to prevent bankruptcy became “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself dangerously close to exiting the eurozone.
On the line was both the country's destiny but also the harsh cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras was forced to reject its outcome and agree to a bailout package with creditors that proved to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes how his former ally demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras also claimed how his aggressive style left him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
This retelling of events has provoked anger and stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
