Within his newly released memoir, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that chaotic era of Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as his finance minister primarily due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis possessed his own agenda that involved advancing his books as well as testing out his economic models on Greece rather than genuinely fighting for the country's financial survival.
He noted how the discussions to stave off bankruptcy became “not just a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously close to exiting the eurozone.
On the line was not only the country's future and those severe austerity measures demanded in return for financial aid from international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the harsh conditions were put to a public vote, an action which threw the EU into a further existential crisis.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal with foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for a deal that required intricate and sensitive management.”
He further wrote that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
This retelling of events has been met with fury along with shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
