Within his recently unveiled memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, he selected that maverick economist Yanis Varoufakis to be his finance minister largely because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis possessed a personal motives which included advancing his books as well as testing out his economic models using Greece rather than truly fighting for the country's economic stability.
Tsipras wrote that those talks to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's theories.”
Critical Talks
Amid tense discussions, Greece came dangerously close to leaving the single currency area.
At stake lay both the country's future but also the severe austerity policies required in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh conditions were put to a public vote, a move which threw the EU into deeper existential crisis.
Although the vote was won decisively by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further wrote that his aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
The retelling of events has provoked anger and shock in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
