In a newly released personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras chose the maverick academic Yanis Varoufakis as the finance minister largely due to the latter's global profile and Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis possessed a personal motives that included advancing Varoufakis's publications and experimenting with his theories on Greece rather than genuinely advocating its financial survival.
He explained how those discussions to stave off bankruptcy became “not only a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of his theories.”
High-Stakes Talks
Amid tense discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was both Greece's destiny and the severe austerity policies demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were put to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to ignore the result and negotiate a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how his former ally demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
He also claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
