In a recently unveiled autobiography, called Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits that chaotic period during Greece's debt drama.
A Controversial Choice
In Tsipras's version, Tsipras selected the unorthodox economist Yanis Varoufakis as the finance minister primarily because of the latter's international reputation along with Varoufakis's highly compelling skills as a communicator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims that Varoufakis possessed his own motives which included advancing Varoufakis's books and experimenting with his own game theories on Greece instead of genuinely advocating the country's economic stability.
He wrote how those discussions to avoid insolvency were “not only a way of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country came perilously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and the severe austerity policies required in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were put to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the vote was won resoundingly by those against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes that his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He further wrote how his confrontational style made him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for Grexit.
This account of events has been met with fury along with shock in some quarters, while the former minister has kept a deafening silence on the matter.
