Within his recently unveiled personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on that turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as the finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to communicator.
“He was, actually, more of a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal agenda which involved promoting his books and testing out his economic models using Greece instead of genuinely advocating its financial survival.
He noted how those discussions to stave off bankruptcy became “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay not only the country's future but also the harsh cutbacks required in return for rescue loans by international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, an action that plunged Europe into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras further wrote that his aggressive approach made him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
