Within his recently unveiled memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, he appointed the maverick academic Yanis Varoufakis to be the treasury head primarily due to his international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, actually, more like a star and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief possessed his own motives which involved promoting Varoufakis's publications as well as experimenting with his game theories using the nation rather than genuinely fighting for the country's economic stability.
He wrote how the talks to stave off insolvency were “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, Greece came perilously close to exiting the single currency area.
At stake was not only Greece's future but also those harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the harsh conditions were subjected to a public vote, an action which threw the EU into deeper crisis of identity.
Although the vote was carried decisively by voters against austerity, Tsipras was forced but to ignore the result and agree to a bailout package with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis had proved himself “unfit for a deal that required complex and delicate handling.”
He further wrote that Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The account of events has been met with fury and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
