In a freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, he selected the maverick academic Yanis Varoufakis as the finance minister mainly due to the latter's international reputation along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a star rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had a personal agenda which included promoting his publications and testing out his theories using the nation rather than truly advocating the country's economic stability.
Tsipras wrote that those discussions to stave off insolvency became “not just a method to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
At stake was both the country's future and the punishing cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote that his aggressive approach left him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
