In a newly released personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines that turbulent era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed that maverick economist Yanis Varoufakis to be the finance minister largely due to the latter's global profile along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had a personal motives that involved advancing Varoufakis's books and testing out his theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras wrote that those talks to prevent bankruptcy were “not only a way to secure a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Talks
During tense negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's future but also the severe austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into a further crisis of identity.
Although the vote was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”
Tsipras also claimed that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
This retelling of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
