In a recently unveiled memoir, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected the unorthodox economist Yanis Varoufakis to be the treasury head primarily because of the latter's worldwide fame along with his highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader suggests that his finance chief had his own agenda which included advancing Varoufakis's books and testing out his own game theories on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted how the discussions to prevent insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his theories.”
Critical Talks
During volatile discussions, the country found itself perilously on the brink of exiting the eurozone.
On the line lay both Greece's destiny and the harsh austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, a move that threw Europe into deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for a deal demanding complex and delicate management.”
He further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
The account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
