Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits that turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he selected that maverick academic Yanis Varoufakis to be the treasury head primarily because of his global profile along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader alleges how his finance chief had a personal agenda that included promoting Varoufakis's books and experimenting with his own theories on the nation rather than genuinely advocating its economic stability.
He noted that those discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously close to exiting the eurozone.
On the line lay not only the country's destiny and those punishing austerity policies demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which threw the EU into a deeper existential crisis.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were advocating Grexit.
This account of events has been met with fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
