Within his recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, he appointed the unorthodox academic Yanis Varoufakis to be his finance minister primarily because of his worldwide fame along with his highly compelling abilities when it came to public orator.
“He was, in reality, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis had a personal motives which involved promoting his books and experimenting with his own economic models using the nation instead of truly advocating the country's economic stability.
Tsipras noted how those talks to stave off insolvency were “not just a way to secure a better deal for the country. They were a test, an historic chance to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came perilously close to leaving the single currency area.
On the line was both Greece's destiny but also those punishing austerity measures required in exchange for bailout funds from international creditors.
Failed Options
Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by those against austerity, the prime minister had little option to ignore the result and negotiate a bailout package with creditors which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He also claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
