In a freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed that maverick academic Yanis Varoufakis as his finance minister largely because of his worldwide fame and Varoufakis's very persuasive skills as a public orator.
“He was, actually, more like a personality rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had his own motives that included promoting Varoufakis's books as well as experimenting with his economic models using the nation rather than genuinely fighting for the country's financial survival.
Tsipras noted that those talks to prevent insolvency became “not just a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of his economic theories.”
Critical Talks
During volatile negotiations, Greece found itself perilously on the brink of exiting the single currency area.
On the line was not only Greece's future and the punishing cutbacks required in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the vote was won resoundingly by those against austerity, the prime minister was forced to ignore the result then negotiate a bailout package with creditors which proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He further wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
The account of events has been met with fury and shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
