In a freshly published memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he selected that maverick academic Yanis Varoufakis to be the finance minister primarily because of the latter's worldwide fame and his highly compelling skills when it came to communicator.
“He was, actually, more of a personality rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims that Varoufakis possessed his own agenda which included advancing his publications and experimenting with his own theories on the nation rather than truly fighting for its financial survival.
He noted how those talks to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, the country came dangerously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and those harsh austerity measures demanded in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into a further crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras further wrote how his aggressive approach left him increasingly isolated among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
