In a freshly published memoir, called Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on that turbulent era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he selected that maverick academic Yanis Varoufakis as the finance minister largely because of his worldwide fame along with his very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed his own motives which included promoting Varoufakis's books as well as experimenting with his theories using the nation rather than genuinely advocating its financial survival.
He explained that those talks to avoid bankruptcy became “not only a way to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line was both the country's future but also those punishing austerity policies demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were subjected to a public vote, an action which plunged Europe into a further crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a parallel currency and distributing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
He also wrote how his confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
The account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
