In a recently unveiled memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines the turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, he appointed that maverick economist Yanis Varoufakis as his treasury head primarily because of his global profile along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, truthfully, more like a star and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal agenda which included advancing Varoufakis's books and testing out his own theories using the nation instead of genuinely advocating its financial survival.
Tsipras wrote that the discussions to avoid bankruptcy were “not just a method of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece came dangerously close to exiting the eurozone.
At stake lay both Greece's future and those severe cutbacks demanded in exchange for financial aid by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, a move which plunged Europe into deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further wrote that Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
