Within his freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, he selected that unorthodox economist Yanis Varoufakis to be the treasury head mainly due to his global profile and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal agenda which involved advancing his books as well as testing out his own economic models on the nation rather than truly fighting for the country's financial survival.
He explained that those discussions to avoid insolvency were “not only a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and those severe austerity policies demanded in return for bailout funds by international creditors.
Failed Options
Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a public vote, a move that threw Europe into a further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further claimed how his confrontational approach made him more and more alone among peers, endangered the country, and helped hawks that were pushing for Grexit.
The account of events has provoked fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
