Within his newly released memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic period of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he chose the maverick academic Yanis Varoufakis as his treasury head primarily due to the latter's global profile along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, actually, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis had his own motives which included advancing Varoufakis's publications as well as experimenting with his economic models on the nation rather than truly fighting for its economic stability.
He explained that those negotiations to stave off insolvency became “not just a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line was both Greece's future and the harsh austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were put to a public vote, an action that plunged the EU into a deeper existential crisis.
Although the vote was carried decisively by voters against the cuts, the prime minister had little option to ignore the result and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras further wrote how his aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
This account of history has been met with anger and shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
