Within his freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's version, he appointed the unorthodox economist Yanis Varoufakis to be the treasury head largely because of the latter's global profile and Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal agenda that included advancing Varoufakis's publications as well as testing out his own economic models using the nation instead of genuinely advocating the country's financial survival.
Tsipras explained that the talks to stave off insolvency became “not just a way of achieving a better deal for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line was not only the country's destiny but also those severe austerity measures demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, a move which plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced to ignore the result and negotiate a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of publications globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally had proved himself to be “unfit for a deal that required complex and sensitive handling.”
He also claimed how his confrontational style made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
The retelling of history has been met with anger and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
