In a freshly published personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head primarily because of his international reputation along with his highly compelling skills as a public orator.
“In reality, he was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests that his finance chief had his own motives that included promoting Varoufakis's books and experimenting with his own theories using Greece instead of genuinely advocating its financial survival.
Tsipras wrote how the negotiations to prevent bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Talks
During volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both Greece's destiny and those harsh austerity policies demanded in return for financial aid by international creditors.
Failed Options
Attempts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the referendum was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate management.”
He also claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of events has provoked anger and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
