Within his freshly published personal account, called Ithaki, the former premier Alexis Tsipras does not hold back as he revisits the turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, he selected that unorthodox academic Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame along with his very persuasive skills when it came to speaker.
“He was, in reality, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal motives that included advancing Varoufakis's publications and experimenting with his economic models using Greece instead of genuinely advocating the country's economic stability.
He wrote that the negotiations to stave off bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and those severe cutbacks required in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, a move that threw Europe into a further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating Grexit.
The retelling of history has provoked anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
