In a freshly published memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's account, Tsipras selected that unorthodox academic Yanis Varoufakis to be his finance minister primarily due to his global profile along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief had a personal motives which included promoting his publications and testing out his game theories using Greece rather than truly fighting for its economic stability.
He explained how the talks to prevent bankruptcy were “not just a way of achieving a better deal for the country. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
During volatile negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny and the punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister was forced to ignore the result and negotiate a bailout package with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
The account of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
