In a freshly published personal account, titled Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, he selected that unorthodox economist Yanis Varoufakis as the finance minister primarily because of his worldwide fame and his “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief had a personal motives which involved promoting Varoufakis's books and experimenting with his theories on Greece instead of genuinely advocating its economic stability.
He explained that the discussions to prevent bankruptcy became “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line was both the country's future and those severe austerity policies demanded in return for bailout funds from international creditors.
Failed Options
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move which threw Europe into a further crisis of identity.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author concludes how Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He further wrote that Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This account of history has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
