In a newly released memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis as the treasury head mainly because of his global profile along with his highly compelling abilities as a public orator.
“In reality, he was, actually, more like a celebrity rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests how Varoufakis possessed a personal agenda which included promoting Varoufakis's books as well as experimenting with his own theories using Greece rather than truly advocating the country's financial survival.
He wrote how the discussions to prevent insolvency became “not just a method of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's future and those punishing austerity policies demanded in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action that plunged Europe into a further crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal with creditors which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader said he realised it was game over and asked him: “Are you serious?”
Lasting Criticism
In the book, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote that his aggressive style made him more and more alone with colleagues, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
