Within his recently unveiled memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back as he revisits the turbulent era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he chose that unorthodox economist Yanis Varoufakis to be his finance minister largely because of his worldwide fame and his highly compelling abilities as a communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis had a personal motives which included promoting Varoufakis's publications and testing out his own economic models on the nation rather than truly advocating the country's economic stability.
He noted that those discussions to prevent insolvency were “not only a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously on the brink of leaving the eurozone.
At stake was not only Greece's destiny and those punishing austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Although the referendum was won decisively by those against the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself “unfit for a deal that required intricate and delicate handling.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The retelling of events has provoked fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
