Within his recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis as the treasury head primarily due to the latter's international reputation along with his highly compelling skills when it came to speaker.
“In reality, he was, actually, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis possessed his own motives that included promoting Varoufakis's books as well as experimenting with his game theories on Greece rather than truly fighting for the country's financial survival.
He explained that the negotiations to avoid insolvency were “not just a way to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line was both the country's future but also the severe austerity policies demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action which threw Europe into further crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He also claimed that Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This account of history has been met with fury and shock in some quarters, while the former minister has so far kept a deafening silence on the matter.
