Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he appointed the maverick academic Yanis Varoufakis to be his finance minister mainly due to his international reputation along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests how Varoufakis had a personal agenda that included advancing Varoufakis's publications as well as testing out his game theories using the nation instead of truly advocating the country's financial survival.
He wrote how those talks to stave off bankruptcy were “not only a way to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Talks
During volatile negotiations, the country came perilously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny but also those harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
He further wrote how his confrontational style made him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This account of events has been met with fury along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
