In a newly released memoir, titled Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines the chaotic era during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he appointed the unorthodox academic Yanis Varoufakis as his treasury head mainly due to his global profile along with his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis had his own agenda which involved promoting Varoufakis's books and testing out his own theories using Greece rather than truly fighting for the country's financial survival.
Tsipras noted how those talks to prevent bankruptcy were “not just a method to secure improved terms for the country. They were a test, an historic chance to demonstrate the truth of his ideas.”
Critical Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line lay both Greece's future and those severe austerity policies demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action which threw Europe into a deeper existential crisis.
Even though the vote was won decisively by voters against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
He further claimed how his aggressive style left him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
The account of events has provoked anger and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
