Within his recently unveiled personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the turbulent era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras appointed the maverick academic Yanis Varoufakis to be his finance minister primarily because of his global profile and his very persuasive skills when it came to speaker.
“He was, truthfully, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed a personal agenda which involved advancing Varoufakis's books as well as testing out his own theories using Greece rather than genuinely fighting for its financial survival.
He noted how those discussions to prevent insolvency became “not just a way to secure improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece came perilously close to leaving the single currency area.
At stake lay not only the country's future but also the harsh cutbacks demanded in return for rescue loans by international creditors.
Failed Alternatives
Efforts to find financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result then agree to a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
He further claimed how Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hardliners that were pushing for Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
