Within his recently unveiled personal account, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines the turbulent era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras selected the maverick economist Yanis Varoufakis as the treasury head primarily due to the latter's worldwide fame and his very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal agenda that involved promoting his books as well as experimenting with his own economic models using Greece rather than genuinely advocating its financial survival.
Tsipras explained that those negotiations to prevent insolvency were “not just a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his theories.”
Critical Talks
During volatile discussions, Greece came dangerously close to leaving the single currency area.
At stake lay not only the country's future and those severe austerity measures required in exchange for rescue loans from international creditors.
Failed Options
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into a further existential crisis.
Even though the vote was won resoundingly by voters against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to retirees, the leader said he realised it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This account of history has provoked anger and shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
