In a newly released memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras appointed that unorthodox academic Yanis Varoufakis as the finance minister mainly due to his worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief had a personal motives which involved advancing his books as well as testing out his economic models using the nation rather than genuinely advocating its financial survival.
He wrote how those talks to stave off insolvency became “not just a way to secure improved terms for the country. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously on the brink of exiting the eurozone.
On the line was both Greece's future but also the punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
