Within his newly released personal account, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he chose the maverick economist Yanis Varoufakis as the treasury head mainly because of the latter's international reputation along with his highly compelling skills as a speaker.
“In reality, he was, in reality, more of a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims that his finance chief possessed his own motives that included promoting his publications as well as testing out his own theories using the nation instead of genuinely fighting for its economic stability.
Tsipras wrote that the negotiations to prevent bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
Critical Talks
During rollercoaster discussions, the country came perilously close to leaving the single currency area.
At stake was not only the country's future and the punishing austerity measures demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, a move which threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras was forced to ignore the result and agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This account of history has been met with fury and shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
