In a newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on that turbulent era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, Tsipras chose the maverick academic Yanis Varoufakis to be his treasury head primarily because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a communicator.
“He was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief had a personal motives which included advancing his books as well as testing out his economic models on Greece rather than truly fighting for its economic stability.
He explained that the discussions to avoid bankruptcy were “not just a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid tense negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake was both the country's destiny but also the harsh austerity measures demanded in exchange for bailout funds by international creditors.
Failed Options
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive management.”
He further claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of events has been met with fury and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
