Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on that chaotic era during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, Tsipras selected the maverick economist Yanis Varoufakis as his treasury head largely due to his worldwide fame along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, actually, more like a star and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own motives that involved advancing Varoufakis's books as well as experimenting with his game theories using the nation rather than truly advocating the country's economic stability.
He noted that those discussions to stave off insolvency became “not only a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
On the line lay both Greece's future but also those harsh austerity measures demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
