In a newly released memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines the chaotic period during Greece's debt drama.
A Controversial Choice
In the ex-PM's version, he chose the unorthodox academic Yanis Varoufakis as his treasury head primarily because of his worldwide fame along with his highly compelling skills when it came to public orator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief had a personal agenda that included promoting Varoufakis's books and experimenting with his game theories on Greece rather than truly fighting for its economic stability.
Tsipras wrote that those talks to prevent bankruptcy became “not only a method to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously close to leaving the eurozone.
On the line was not only Greece's future and those harsh austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which threw the EU into a deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for Grexit.
This retelling of history has provoked fury and shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
