In a newly released personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the turbulent period during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he chose the unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his worldwide fame along with Varoufakis's highly compelling skills as a speaker.
“He was, truthfully, more of a star rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal agenda that included advancing his publications as well as testing out his theories using Greece rather than genuinely fighting for its economic stability.
He noted how the discussions to prevent bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense negotiations, the country came perilously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny and the harsh austerity policies demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action that threw Europe into a further crisis of identity.
Even though the vote was won decisively by those against austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency and issuing coupons to pensioners, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate management.”
He also claimed that his confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The account of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
