In a newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras selected the maverick academic Yanis Varoufakis to be the treasury head mainly because of the latter's worldwide fame along with his “extremely attractive” skills as a speaker.
“He was, actually, more like a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal motives that included advancing his books as well as testing out his theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras wrote that the talks to prevent bankruptcy were “not just a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid volatile negotiations, the country found itself dangerously close to exiting the eurozone.
At stake lay not only the country's future but also those punishing austerity measures required in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from creditors that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
The retelling of events has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
