Within his recently unveiled personal account, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his treasury head mainly due to the latter's global profile along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, in reality, more like a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis had a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his own game theories on Greece rather than truly fighting for the country's financial survival.
Tsipras explained that those discussions to avoid bankruptcy became “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake was not only Greece's future and those punishing austerity measures demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action which threw the EU into further existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, Tsipras had little option to ignore the result and negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally had proved himself “unfit for an agreement that required complex and sensitive handling.”
He further wrote that his confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
