In a newly released autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that turbulent period during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected that maverick academic Yanis Varoufakis to be his treasury head mainly due to the latter's worldwide fame and Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda that involved promoting his publications as well as testing out his game theories using the nation rather than genuinely advocating its financial survival.
He wrote that those negotiations to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They became a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny and those punishing austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those harsh conditions were put to a public vote, an action that plunged Europe into a deeper existential crisis.
Even though the referendum was carried decisively by those against austerity, Tsipras was forced but to reject its outcome then negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency and distributing vouchers to retirees, the leader knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself “unfit for a deal that required complex and delicate handling.”
He also claimed that his aggressive approach left him more and more alone among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This account of events has been met with fury and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
