In a recently unveiled memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic period of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he appointed the maverick economist Yanis Varoufakis as his treasury head mainly due to his worldwide fame and his highly compelling abilities when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis had a personal motives that included advancing his books as well as testing out his economic models using the nation instead of genuinely fighting for the country's economic stability.
Tsipras noted that the discussions to prevent bankruptcy became “not only a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of his theories.”
High-Stakes Talks
Amid tense discussions, the country came perilously on the brink of exiting the single currency area.
At stake lay both Greece's future and the punishing cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He further claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
This retelling of events has provoked fury and shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
