Within his newly released autobiography, called Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he chose the maverick academic Yanis Varoufakis as his treasury head primarily because of his international reputation and his “extremely attractive” abilities as a speaker.
“He was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis had his own agenda which included promoting Varoufakis's publications and experimenting with his theories using Greece rather than genuinely fighting for its financial survival.
He wrote how those discussions to stave off insolvency were “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both Greece's future and the severe austerity measures required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
The account of events has provoked fury along with shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
