In a newly released personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he appointed that maverick economist Yanis Varoufakis as the treasury head primarily because of the latter's global profile and Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, actually, more of a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests that his finance chief possessed a personal agenda which involved promoting his books as well as testing out his theories on the nation instead of genuinely fighting for the country's economic stability.
He explained that those discussions to prevent insolvency were “not only a way of achieving a better deal for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece came perilously close to leaving the single currency area.
On the line was both the country's destiny and those punishing austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action that threw Europe into a deeper crisis of identity.
Although the referendum was carried resoundingly by those against austerity, Tsipras had little option but to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who drew publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
He further claimed how his confrontational style made him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger and shock in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
