Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed that maverick academic Yanis Varoufakis as his treasury head largely due to the latter's global profile along with his very persuasive skills as a communicator.
“In reality, he was, actually, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief had his own motives which included promoting Varoufakis's books and experimenting with his own game theories on the nation rather than truly fighting for the country's economic stability.
He wrote that those discussions to stave off bankruptcy became “not just a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously on the brink of leaving the single currency area.
At stake was both Greece's destiny but also those punishing austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action which threw Europe into deeper crisis of identity.
Although the referendum was won decisively by those who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote that his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
The account of events has been met with fury and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
