In a recently unveiled personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the turbulent period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's recollections, he selected that maverick economist Yanis Varoufakis as his treasury head mainly due to the latter's worldwide fame along with his highly compelling skills as a communicator.
“He was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal motives that included advancing Varoufakis's publications as well as experimenting with his own theories on Greece rather than truly fighting for the country's financial survival.
Tsipras wrote that those discussions to avoid insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
At stake was both the country's destiny and the harsh cutbacks required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a popular referendum, an action which plunged the EU into a further existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
He further claimed how his confrontational style made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has kept a deafening silence on the matter.
