Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits that chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, Tsipras selected the unorthodox economist Yanis Varoufakis as his treasury head largely due to his global profile and his very persuasive skills as a speaker.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief possessed a personal agenda that included promoting Varoufakis's publications and testing out his economic models using the nation rather than truly fighting for the country's economic stability.
He explained how the discussions to prevent bankruptcy were “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
At stake lay both Greece's destiny but also those punishing austerity measures required in exchange for rescue loans by international creditors.
Failed Options
Efforts to find funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating conditions were subjected to a public vote, a move which plunged the EU into deeper crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
He further claimed that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
