In a recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed that maverick economist Yanis Varoufakis to be his treasury head largely because of his international reputation along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed a personal motives which involved promoting his publications as well as testing out his game theories on Greece instead of genuinely advocating the country's economic stability.
He explained how the negotiations to stave off bankruptcy became “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, Greece found itself perilously close to leaving the eurozone.
On the line was both the country's future but also the severe austerity policies demanded in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, a move which threw the EU into deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement that required complex and sensitive management.”
He also wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
