Within his newly released memoir, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, he appointed that unorthodox economist Yanis Varoufakis to be the treasury head mainly because of his worldwide fame and his highly compelling abilities as a communicator.
“In reality, he was, actually, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal agenda that included promoting Varoufakis's publications and experimenting with his game theories on Greece rather than truly fighting for the country's financial survival.
He noted that the discussions to prevent bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay both the country's future and those punishing austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating conditions were put to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the vote was won decisively by those who opposed austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes that Varoufakis had proved himself “unfit for a deal that required intricate and delicate management.”
He also wrote that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has provoked fury along with shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
