Within his newly released autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on that chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, he chose that unorthodox academic Yanis Varoufakis as his finance minister largely because of the latter's international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal agenda that included promoting his books and testing out his own theories using the nation rather than truly fighting for its economic stability.
Tsipras explained that the talks to prevent bankruptcy became “not only a method to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake was not only Greece's future and those punishing austerity measures required in exchange for bailout funds by international creditors.
Failed Options
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the vote was won resoundingly by those against austerity, Tsipras had little option to ignore the result and agree to a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
