Within his freshly published memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis to be the finance minister mainly due to his worldwide fame along with his very persuasive skills as a communicator.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges how his finance chief had his own agenda which included promoting his publications as well as testing out his own theories on the nation instead of genuinely advocating the country's financial survival.
Tsipras explained that those negotiations to prevent insolvency were “not only a method to secure a better deal for the country. They were a test, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line was not only Greece's destiny and those harsh austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which plunged the EU into a further existential crisis.
Although the vote was carried resoundingly by voters against austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors which proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
