In a freshly published memoir, named Ithaki, the former leader Alexis Tsipras pulls no punches as he examines that chaotic era during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, Tsipras selected the unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame along with his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief possessed his own motives which involved advancing Varoufakis's books and testing out his own game theories using Greece rather than genuinely advocating the country's financial survival.
He noted that those negotiations to stave off insolvency were “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's destiny and the harsh cutbacks required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving creating a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
He further claimed that his aggressive approach left him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The account of history has provoked fury along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
