In a newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, Tsipras appointed that unorthodox economist Yanis Varoufakis to be the finance minister mainly because of the latter's global profile and Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief possessed a personal agenda that included promoting Varoufakis's publications as well as experimenting with his theories on the nation instead of truly fighting for the country's financial survival.
Tsipras noted that those negotiations to stave off bankruptcy were “not just a method to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During tense negotiations, Greece came perilously close to exiting the single currency area.
At stake lay not only the country's destiny and those harsh cutbacks demanded in return for financial aid from international creditors.
Failed Options
Attempts to find funds from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, Tsipras had little option to ignore the result and negotiate a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of events has been met with anger along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
