Within his newly released personal account, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, Tsipras appointed the unorthodox economist Yanis Varoufakis as his treasury head largely due to his global profile along with Varoufakis's highly compelling skills as a public orator.
“He was, truthfully, more like a star and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal agenda that involved advancing Varoufakis's publications as well as testing out his economic models on the nation instead of genuinely advocating its economic stability.
Tsipras explained that the talks to stave off insolvency became “not just a way to secure improved terms for the country. They were a test, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
On the line was both the country's future and those punishing austerity measures demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further claimed that his confrontational style left him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
This account of history has provoked fury and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
