Within his newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that turbulent era of Greece's debt drama.
A Controversial Choice
In Tsipras's account, Tsipras chose the maverick academic Yanis Varoufakis to be the treasury head primarily because of his international reputation along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, actually, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief had his own motives that involved advancing Varoufakis's publications as well as experimenting with his own theories using Greece instead of truly fighting for the country's financial survival.
He wrote how those talks to avoid bankruptcy were “not only a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece came perilously close to exiting the single currency area.
On the line lay not only Greece's future and those severe cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those harsh conditions were subjected to a public vote, a move that threw Europe into a deeper crisis of identity.
Although the vote was won decisively by voters against austerity, the prime minister was forced to ignore the result and negotiate a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing vouchers to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for a deal that required complex and delicate management.”
He further claimed that his aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating Grexit.
This account of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
