Within his newly released memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected the maverick economist Yanis Varoufakis as his treasury head primarily because of the latter's international reputation and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal agenda that included promoting his books and testing out his own game theories on the nation instead of truly advocating its financial survival.
He explained that those discussions to stave off bankruptcy were “not only a way to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay both Greece's destiny but also those severe austerity measures demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were put to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, Tsipras knew it was game over and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed that his confrontational approach left him more and more alone among peers, endangered the country, and assisted hawks who were pushing for Grexit.
This retelling of history has been met with anger along with shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
