Within his freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis as his treasury head largely due to his global profile and Varoufakis's very persuasive abilities as a speaker.
“He was, in reality, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had a personal agenda which involved promoting his books and experimenting with his economic models on the nation instead of truly advocating the country's economic stability.
He explained how those negotiations to stave off insolvency became “not just a method to secure improved terms for the country. They became a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid volatile discussions, the country found itself perilously close to leaving the eurozone.
On the line was both the country's destiny and those severe cutbacks required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the excoriating bailout terms were put to a public vote, a move that threw the EU into a further crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras had little option but to ignore the result and negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He also wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
This account of history has provoked anger and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
