Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, he appointed that unorthodox economist Yanis Varoufakis as his treasury head primarily because of his global profile and Varoufakis's highly compelling skills as a communicator.
“He was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had a personal motives which involved promoting Varoufakis's publications as well as experimenting with his own theories on Greece rather than genuinely advocating its financial survival.
Tsipras wrote how those talks to stave off insolvency became “not only a way of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During tense negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only the country's future and those severe austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move which threw the EU into further existential crisis.
Even though the vote was won resoundingly by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
He further wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The account of events has been met with fury along with shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
