In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on that turbulent era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis as his finance minister primarily because of his worldwide fame and his very persuasive skills as a public orator.
“He was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal agenda which included promoting Varoufakis's books and experimenting with his own game theories on Greece instead of truly advocating its financial survival.
He noted that those talks to stave off insolvency were “not just a method to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake lay both the country's destiny but also those punishing austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, an action which threw the EU into a deeper existential crisis.
Although the referendum was won decisively by voters against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
He also wrote how his aggressive approach left him more and more alone with colleagues, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
