In a recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras pulls no punches while he examines the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed that unorthodox academic Yanis Varoufakis as the finance minister mainly due to the latter's global profile along with his “extremely attractive” skills as a speaker.
“He was, in reality, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief had his own agenda which included promoting his publications and testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.
He noted that those discussions to stave off bankruptcy became “not only a way of achieving improved terms for the country. They were a test, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came dangerously close to leaving the eurozone.
At stake lay both the country's destiny and those punishing cutbacks required in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh conditions were subjected to a public vote, a move which plunged the EU into deeper crisis of identity.
Although the vote was carried decisively by those who opposed austerity, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders which proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive handling.”
He also wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
