In a newly released memoir, named Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras selected that maverick academic Yanis Varoufakis as the treasury head largely because of his international reputation and his highly compelling skills when it came to communicator.
“He was, in reality, more like a personality and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that Varoufakis possessed his own agenda that involved advancing his publications and testing out his own game theories using Greece rather than truly advocating its financial survival.
He explained that the talks to avoid insolvency became “not only a method of achieving improved terms for the country. They were a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During tense discussions, the country came dangerously close to leaving the single currency area.
On the line was not only Greece's future but also those punishing austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that threw Europe into deeper existential crisis.
Although the referendum was carried resoundingly by voters against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
This retelling of history has provoked fury and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
