In a freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he appointed that maverick academic Yanis Varoufakis as his treasury head primarily because of his international reputation and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, in reality, more like a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief had a personal agenda which involved promoting Varoufakis's publications and experimenting with his theories on the nation instead of genuinely fighting for the country's financial survival.
He explained that those negotiations to avoid bankruptcy became “not only a method of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster discussions, the country came dangerously on the brink of leaving the eurozone.
At stake was not only the country's destiny and those punishing austerity measures required in return for rescue loans by foreign lenders.
Failed Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those harsh bailout terms were put to a public vote, an action that plunged the EU into further crisis of identity.
Although the vote was won decisively by those against the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also claimed that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
