In a freshly published memoir, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on that chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras chose the unorthodox economist Yanis Varoufakis as his finance minister mainly because of the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed a personal agenda which included promoting his books and testing out his theories on Greece instead of genuinely advocating the country's economic stability.
He explained that those negotiations to stave off insolvency became “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay both the country's future but also the severe austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating conditions were put to a popular referendum, a move that threw Europe into a further crisis of identity.
Even though the vote was carried decisively by those against austerity, Tsipras had little option to ignore the result and agree to a bailout package with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
He further claimed how his confrontational style made him more and more alone among peers, endangered the country, and assisted hawks who were advocating Grexit.
The account of events has provoked fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
