In a freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis as the treasury head primarily because of the latter's international reputation and his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a star and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis possessed his own motives that included promoting his publications as well as testing out his theories using Greece rather than truly advocating its economic stability.
He wrote that those talks to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the truth of his theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
At stake was both the country's future and the severe austerity measures demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action that threw the EU into deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Criticism
In the book, the author concludes how his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also claimed that his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
