In a newly released memoir, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, he chose the unorthodox economist Yanis Varoufakis as the finance minister primarily due to his worldwide fame and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a star rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal motives which included promoting Varoufakis's books as well as testing out his own game theories using Greece rather than genuinely fighting for its financial survival.
He wrote how those negotiations to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his theories.”
Critical Negotiations
During tense discussions, the country came dangerously close to exiting the eurozone.
At stake lay not only the country's future but also those punishing austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a public vote, an action which plunged Europe into deeper existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option to reject its outcome and negotiate a bailout package with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself “unfit for an agreement that required intricate and sensitive management.”
He further claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while assisted hawks who were pushing for Grexit.
This account of events has been met with fury and shock among certain groups, while the former minister has kept a deafening silence on the matter.
