Within his freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines the turbulent era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, Tsipras appointed that unorthodox academic Yanis Varoufakis as his finance minister largely due to the latter's worldwide fame and his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more of a star and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had his own agenda that involved advancing Varoufakis's publications and testing out his economic models on the nation rather than truly advocating its financial survival.
He noted that the discussions to prevent insolvency were “not only a way of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously close to leaving the eurozone.
On the line was not only the country's future but also the punishing austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, an action that threw Europe into further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then negotiate a bailout package from foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
He also wrote how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and helped hardliners who were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
