In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras chose the unorthodox academic Yanis Varoufakis as the treasury head primarily because of his international reputation and his very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief had his own motives that involved advancing Varoufakis's books as well as experimenting with his own game theories using the nation instead of truly fighting for the country's economic stability.
He explained that those discussions to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.
At stake was not only the country's future and the punishing austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Even though the referendum was carried decisively by those against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, the leader knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the book, the author concludes how his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also claimed that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
