In a recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras spares no criticism as he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, he chose that maverick academic Yanis Varoufakis as his treasury head primarily because of his worldwide fame and his “extremely attractive” abilities when it came to speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief possessed his own motives which involved promoting his books and experimenting with his own economic models on Greece rather than truly fighting for the country's economic stability.
He explained that the talks to stave off bankruptcy became “not just a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, the country came dangerously on the brink of leaving the eurozone.
On the line was not only Greece's future but also the severe cutbacks required in return for bailout funds from international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action that plunged Europe into a further crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister had little option but to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras also wrote that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The account of history has provoked anger along with shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
