In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines the turbulent era during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's version, he chose the unorthodox economist Yanis Varoufakis to be the treasury head mainly because of the latter's global profile and his highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed a personal motives that included promoting Varoufakis's books and testing out his own theories on the nation instead of truly advocating its economic stability.
He wrote how those discussions to prevent bankruptcy were “not just a method of achieving a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's destiny and the harsh austerity measures demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that proved to be more severe.
Final Straw
The ex-PM 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 publications globally … it seemed he relished his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency and distributing coupons to retirees, the leader knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with fury along with shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
