In a freshly published personal account, named Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, he appointed the maverick academic Yanis Varoufakis to be his finance minister primarily because of his global profile and his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis possessed his own agenda that involved promoting Varoufakis's books and experimenting with his game theories on Greece rather than genuinely fighting for the country's financial survival.
He noted how the negotiations to prevent bankruptcy were “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was not only the country's future but also those punishing austerity measures demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were subjected to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package from creditors which proved to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew that it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes that his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury and shock in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
