In a recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, he appointed the maverick academic Yanis Varoufakis as his finance minister largely due to his international reputation and Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis had his own motives that included advancing his publications and testing out his economic models using the nation instead of genuinely fighting for the country's economic stability.
He wrote that the discussions to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They were an experiment, an historic chance to prove the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
On the line was both the country's destiny and those punishing austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that plunged Europe into a further crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked anger along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
