Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines that chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, he chose that unorthodox economist Yanis Varoufakis to be his treasury head primarily because of the latter's worldwide fame and Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had his own agenda which involved advancing his publications as well as experimenting with his theories on Greece instead of genuinely advocating the country's financial survival.
Tsipras wrote how those discussions to stave off bankruptcy were “not just a method of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
During rollercoaster discussions, the country came perilously close to leaving the single currency area.
At stake was both Greece's destiny and the harsh austerity policies required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a public vote, an action which plunged Europe into further existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
Tsipras also claimed that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of events has been met with anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
