In a freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister primarily due to his international reputation along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis possessed a personal agenda that included advancing Varoufakis's publications as well as testing out his economic models using Greece rather than genuinely advocating its financial survival.
He noted how the negotiations to stave off insolvency became “not only a way of achieving a better deal for the country. They became a test, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line was not only the country's future but also those punishing austerity policies required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were put to a public vote, an action which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those against the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras further claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
