In a freshly published personal account, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on that chaotic era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, Tsipras chose that unorthodox economist Yanis Varoufakis to be his treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive skills as a public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal motives which included advancing Varoufakis's publications and experimenting with his own game theories using Greece instead of genuinely fighting for its financial survival.
Tsipras explained how those negotiations to stave off insolvency became “not only a way to secure a better deal for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake lay both the country's future but also those severe cutbacks required in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move that plunged the EU into a deeper crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result then agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
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 attracted publicity, who graced the covers of magazines globally … it seemed he relished his new role.”
After the minister proposed a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate handling.”
He also claimed that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
