Within his newly released personal account, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's account, he chose that unorthodox economist Yanis Varoufakis to be his finance minister primarily because of the latter's international reputation along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more like a star rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had his own motives which included promoting his publications as well as testing out his own game theories on Greece rather than truly fighting for its economic stability.
Tsipras wrote how those talks to avoid bankruptcy were “not only a method of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both the country's destiny but also the punishing austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those excoriating conditions were put to a public vote, a move which threw the EU into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result and agree to a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and issuing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.