In a freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines the turbulent period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis as the finance minister primarily because of the latter's worldwide fame and his highly compelling abilities as a communicator.
“He was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief possessed his own motives which involved promoting his publications and experimenting with his own economic models on the nation instead of genuinely advocating the country's economic stability.
He wrote that the negotiations to stave off insolvency were “not just a way to secure a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake was not only the country's future but also the severe cutbacks required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action that threw the EU into further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal that required complex and delicate management.”
He further wrote how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating Grexit.
The retelling of history has been met with anger and shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
