Within his recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits that turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, he chose that maverick academic Yanis Varoufakis as the finance minister mainly due to the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal agenda that involved advancing Varoufakis's books as well as testing out his theories on the nation rather than truly fighting for the country's economic stability.
He explained that the negotiations to prevent bankruptcy were “not only a way of achieving improved terms for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously close to leaving the eurozone.
At stake was both Greece's future but also those harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors which proved to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He also claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for Grexit.
This retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
