Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed the maverick academic Yanis Varoufakis to be his finance minister largely because of his international reputation along with his very persuasive abilities as a speaker.
“He was, truthfully, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis had a personal motives that involved promoting his publications as well as testing out his own theories on the nation instead of genuinely advocating its economic stability.
Tsipras wrote that those talks to stave off bankruptcy became “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake was both Greece's destiny and the severe austerity measures demanded in return for bailout funds from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were subjected to a public vote, an action which threw the EU into further crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
