Within his recently unveiled memoir, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that chaotic era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis to be the finance minister mainly due to his international reputation along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras suggests that his finance chief had a personal agenda which included promoting Varoufakis's publications as well as testing out his own game theories using Greece rather than genuinely advocating the country's economic stability.
Tsipras wrote that those talks to avoid insolvency became “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country found itself dangerously close to leaving the eurozone.
At stake was both Greece's destiny but also the severe austerity measures demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that plunged Europe into deeper existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, the leader knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
The retelling of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
