In a freshly published memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, Tsipras selected the unorthodox economist Yanis Varoufakis as the finance minister largely because of the latter's worldwide fame and his “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis had his own motives that involved promoting his publications as well as testing out his own economic models using Greece instead of truly fighting for its economic stability.
Tsipras wrote how the negotiations to avoid insolvency were “not only a method to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay not only Greece's future and the punishing austerity measures demanded in return for financial aid by international creditors.
Failed Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Although the vote was carried decisively by those against the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
He also wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
