In a newly released memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he appointed that unorthodox economist Yanis Varoufakis as his finance minister mainly because of the latter's worldwide fame along with his highly compelling abilities as a communicator.
“He was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis possessed his own motives which included advancing his books and experimenting with his game theories using the nation rather than genuinely advocating its financial survival.
He noted how the talks to stave off insolvency became “not just a way of achieving improved terms for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only the country's destiny and the punishing austerity measures demanded in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move that threw Europe into a further existential crisis.
Although the vote was won resoundingly by those against austerity, Tsipras had little option to reject its outcome then negotiate a bailout package from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further claimed how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
This account of history has been met with anger and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
