In a recently unveiled memoir, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, he selected the maverick economist Yanis Varoufakis as the finance minister primarily because of his global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a star rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief possessed a personal agenda which involved advancing his books as well as experimenting with his own game theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to stave off bankruptcy became “not only a method of achieving improved terms for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay both Greece's future but also the severe austerity measures required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome and agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal that required complex and sensitive handling.”
Tsipras also claimed that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
