Within his recently unveiled personal account, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras appointed the unorthodox economist Yanis Varoufakis as the finance minister largely due to the latter's global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more like a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis had a personal motives which included promoting Varoufakis's publications as well as experimenting with his own game theories using Greece instead of truly fighting for the country's economic stability.
He wrote how those negotiations to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During rollercoaster negotiations, Greece came dangerously close to leaving the eurozone.
On the line was both the country's future but also those severe austerity measures required in return for financial aid by international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were subjected to a public vote, an action which plunged the EU into a further existential crisis.
Even though the vote was won resoundingly by those against austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This account of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
