Within his recently unveiled autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that maverick academic Yanis Varoufakis to be his treasury head largely because of the latter's international reputation and his highly compelling abilities as a speaker.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief had his own agenda that included promoting Varoufakis's publications as well as experimenting with his theories on the nation instead of genuinely fighting for the country's economic stability.
Tsipras explained that those talks to avoid insolvency were “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line was not only the country's future and the punishing cutbacks demanded in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, a move that threw the EU into a deeper existential crisis.
Although the vote was carried resoundingly by voters against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with creditors which turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author concludes that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for Grexit.
The retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
