In a recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on that chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis as the treasury head largely due to his international reputation along with his “extremely attractive” skills when it came to speaker.
“He was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief had a personal agenda that included advancing Varoufakis's books as well as experimenting with his economic models on Greece rather than truly advocating its economic stability.
Tsipras wrote that those discussions to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake lay not only the country's future and the harsh austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the excoriating conditions were put to a public vote, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister was forced but to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also claimed how his aggressive style left him more and more alone among peers, endangered the country, while assisted hawks who were advocating Grexit.
The retelling of events has been met with anger and shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
