In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he selected that unorthodox academic Yanis Varoufakis as his finance minister largely because of the latter's global profile and his highly compelling skills when it came to public orator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda that involved promoting his publications as well as experimenting with his own theories using the nation rather than truly advocating the country's financial survival.
Tsipras explained that the discussions to prevent insolvency were “not only a way to secure a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
On the line lay not only the country's future and those harsh austerity measures demanded in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to find funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, a move which plunged the EU into deeper existential crisis.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further claimed that his confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
