Within his recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis to be his finance minister primarily due to the latter's worldwide fame and his highly compelling abilities when it came to communicator.
“He was, actually, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis possessed his own motives which involved promoting Varoufakis's publications as well as testing out his own theories on the nation instead of truly advocating its economic stability.
Tsipras wrote how those discussions to stave off insolvency became “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was both the country's future but also the severe austerity policies demanded in exchange for bailout funds by international creditors.
Failed Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, a move that plunged the EU into a deeper existential crisis.
Even though the vote was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result then agree to a rescue deal from creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
He further claimed that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
The retelling of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
