In a freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed his own agenda that involved promoting Varoufakis's books and experimenting with his own game theories using Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote that the negotiations to avoid bankruptcy became “not just a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came perilously close to leaving the single currency area.
On the line was both Greece's future but also the severe austerity measures required in return for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister had little option to ignore the result and negotiate a bailout package from creditors which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency and distributing vouchers to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Lasting Criticism
In the book, the author concludes that Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive management.”
He further claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
The account of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
