Within his freshly published autobiography, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on that turbulent period during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's account, Tsipras appointed the unorthodox economist Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame along with his highly compelling skills as a public orator.
“In reality, he was, actually, more like a star rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed his own agenda that involved advancing his books as well as experimenting with his theories using the nation instead of genuinely advocating its financial survival.
He noted that the talks to prevent bankruptcy were “not only a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During tense discussions, the country found itself dangerously close to exiting the eurozone.
At stake lay both the country's future and the punishing cutbacks demanded in return for financial aid from international creditors.
Failed Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action which plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, Tsipras had little option to reject its outcome then negotiate a bailout package with foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts how Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate handling.”
He also wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
