In a freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that turbulent period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as the finance minister primarily because of the latter's international reputation and Varoufakis's very persuasive skills when it came to communicator.
“He was, in reality, more of a celebrity and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed a personal agenda which included promoting Varoufakis's books as well as testing out his own game theories using the nation rather than genuinely advocating its economic stability.
Tsipras noted how those negotiations to stave off insolvency became “not just a method to secure a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously close to leaving the eurozone.
At stake was both Greece's destiny and the punishing austerity policies required in exchange for bailout funds by international creditors.
Failed Options
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were put to a popular referendum, an action which threw the EU into further crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras was forced to ignore the result then agree to a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
