In a recently unveiled memoir, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines the turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, he chose the maverick academic Yanis Varoufakis to be his finance minister largely because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed his own motives which involved promoting his publications and experimenting with his theories using Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted that the negotiations to prevent insolvency became “not just a way to secure improved terms for Greece. They were a test, a monumental chance to prove the validity of his ideas.”
Critical Talks
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's destiny and the punishing austerity policies required in return for rescue loans by foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating conditions were put to a popular referendum, a move which plunged Europe into further existential crisis.
Even though the vote was carried resoundingly by those against the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency and issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement demanding complex and sensitive handling.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
The account of history has provoked fury along with shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
