In a newly released personal account, called Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis as the finance minister mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more of a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal agenda that involved advancing his publications as well as testing out his economic models using Greece rather than truly advocating the country's financial survival.
He noted how those negotiations to stave off bankruptcy became “not just a method to secure a better deal for the country. They were a test, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny and the punishing cutbacks required in return for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency and distributing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself “unfit for a deal that required complex and delicate management.”
He also claimed that Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
