Within his recently unveiled personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, Tsipras selected the maverick academic Yanis Varoufakis to be the treasury head primarily because of his international reputation and his very persuasive skills as a speaker.
“In reality, he was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests that his finance chief had his own motives that included advancing Varoufakis's publications and testing out his own game theories using Greece instead of truly advocating its economic stability.
He explained how the talks to prevent insolvency were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was not only Greece's future but also those severe austerity policies required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action which threw Europe into further existential crisis.
Even though the vote was won resoundingly by those against the cuts, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further wrote that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked fury along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
