Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines that turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, he appointed the unorthodox economist Yanis Varoufakis as the treasury head primarily due to his worldwide fame along with his “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal agenda that involved promoting Varoufakis's publications as well as experimenting with his own game theories on the nation rather than truly advocating its financial survival.
Tsipras explained how the discussions to stave off insolvency were “not only a method of achieving a better deal for the country. They were a test, an historic opportunity to prove the validity of his economic theories.”
Critical Talks
Amid volatile discussions, the country found itself perilously on the brink of exiting the eurozone.
On the line was not only the country's future but also those harsh austerity measures demanded in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move which threw the EU into further existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes how Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive handling.”
He further wrote how his aggressive approach made him more and more alone among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.