Within his newly released autobiography, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic era of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis to be the finance minister mainly because of the latter's international reputation along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, actually, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal motives that involved advancing Varoufakis's books as well as experimenting with his theories using Greece rather than genuinely advocating its financial survival.
He noted that those negotiations to prevent insolvency became “not only a way to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the severe austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the referendum was carried decisively by those against austerity, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes how his former ally demonstrated himself “unfit for an agreement demanding complex and sensitive management.”
He also claimed that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
