Within his newly released memoir, called Ithaki, the former leader Alexis Tsipras does not hold back while he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, he chose the unorthodox economist Yanis Varoufakis as the finance minister largely due to the latter's global profile and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, truthfully, more like a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis possessed a personal motives that involved promoting his publications and experimenting with his own game theories on the nation instead of genuinely fighting for its economic stability.
He explained that those discussions to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Talks
During tense discussions, the country came perilously close to leaving the single currency area.
On the line lay both Greece's future but also the harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras also claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This retelling of events has been met with fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
