In a freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines the turbulent period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he selected that unorthodox academic Yanis Varoufakis to be the finance minister largely due to his international reputation along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, actually, more of a star and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own agenda that included advancing Varoufakis's books as well as testing out his own game theories on Greece instead of truly advocating the country's financial survival.
He noted how the negotiations to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country found itself perilously close to exiting the single currency area.
At stake was not only Greece's destiny but also those harsh cutbacks demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that plunged Europe into deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis had proved himself “unfit for a deal demanding complex and sensitive management.”
He also wrote that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of history has been met with anger and shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
