Within his newly released memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis as the treasury head primarily because of his worldwide fame and his very persuasive skills as a public orator.
“He was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own agenda that included promoting Varoufakis's publications as well as experimenting with his own economic models using Greece instead of truly fighting for its economic stability.
Tsipras wrote that those discussions to stave off insolvency became “not only a method to secure a better deal for the country. They were a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid volatile discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny and those harsh austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury and shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
