Within his freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, Tsipras chose the unorthodox academic Yanis Varoufakis as his finance minister largely due to his global profile along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more of a personality rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal motives that included advancing his publications and experimenting with his own theories on the nation instead of genuinely fighting for its economic stability.
He noted how the discussions to stave off insolvency were “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake was both Greece's destiny but also those punishing austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were subjected to a public vote, an action which threw Europe into a deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of history has been met with anger along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
