Within his recently unveiled memoir, called Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he chose the maverick economist Yanis Varoufakis as his finance minister largely because of his worldwide fame and his highly compelling skills as a communicator.
“He was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed his own motives which included advancing his books and experimenting with his own economic models on Greece rather than truly advocating its financial survival.
He noted how those talks to prevent insolvency were “not only a method of achieving a better deal for Greece. They became a test, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
Amid volatile negotiations, the country came perilously on the brink of exiting the single currency area.
On the line was both Greece's destiny and the severe cutbacks demanded in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, a move that plunged the EU into deeper crisis of identity.
Although the referendum was won decisively by voters against austerity, Tsipras was forced to reject its outcome and agree to a rescue deal from creditors which turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury and shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
