Within his newly released memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he appointed that unorthodox academic Yanis Varoufakis as his finance minister mainly because of the latter's worldwide fame and Varoufakis's very persuasive skills as a public orator.
“He was, in reality, more like a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis possessed a personal motives that involved promoting Varoufakis's books as well as experimenting with his economic models on the nation instead of genuinely fighting for the country's economic stability.
He noted that the discussions to prevent insolvency were “not just a method of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay both Greece's destiny but also those severe austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were subjected to a public vote, a move that threw Europe into deeper existential crisis.
Even though the vote was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result then agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing coupons to retirees, the leader said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
