Within his newly released memoir, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, he chose that unorthodox economist Yanis Varoufakis as his finance minister mainly due to the latter's global profile and Varoufakis's highly compelling skills when it came to communicator.
“He was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader alleges how his finance chief had his own motives that involved promoting his publications and experimenting with his economic models on Greece instead of truly advocating its financial survival.
He noted that the negotiations to avoid bankruptcy were “not only a way to secure a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, the country came perilously close to leaving the single currency area.
On the line lay not only Greece's future but also the harsh austerity policies required in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were put to a public vote, a move which threw Europe into a deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, the prime minister had little option but to reject its outcome and agree to a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes that Varoufakis had proved himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and helped hardliners who were advocating Grexit.
The account of history has been met with fury and shock in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
