Within his recently unveiled memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he appointed that maverick academic Yanis Varoufakis to be his treasury head mainly due to the latter's international reputation and his highly compelling abilities as a communicator.
“He was, actually, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief had his own agenda that included promoting Varoufakis's publications as well as testing out his own theories using Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to avoid insolvency became “not only a way of achieving improved terms for the country. They became a test, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and the punishing austerity policies required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move that threw the EU into a further existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister had little option to reject its outcome and agree to a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
