Within his newly released personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he examines that turbulent era of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras appointed the unorthodox economist Yanis Varoufakis as his treasury head mainly because of his worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader suggests that his finance chief possessed a personal agenda which involved promoting Varoufakis's books as well as testing out his economic models on Greece rather than genuinely advocating the country's financial survival.
He wrote that those negotiations to prevent insolvency were “not only a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Talks
During tense discussions, the country came dangerously close to leaving the eurozone.
At stake was both the country's destiny and those severe cutbacks required in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a popular referendum, an action which plunged Europe into further crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
This retelling of history has provoked fury along with shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
