In a freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines that chaotic era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he chose the maverick academic Yanis Varoufakis to be his treasury head largely due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own agenda that involved advancing Varoufakis's publications and experimenting with his own economic models using Greece rather than truly advocating the country's economic stability.
He noted that the negotiations to stave off insolvency became “not only a way to secure improved terms for the country. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, an action that plunged Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal that required complex and delicate management.”
He also claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
