Within his newly released personal account, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on that turbulent era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis as the finance minister largely because of his international reputation and his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader claims that his finance chief had his own motives that involved advancing his publications as well as testing out his game theories using the nation instead of genuinely fighting for the country's economic stability.
Tsipras wrote that the negotiations to stave off insolvency were “not just a way to secure a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and those severe austerity policies required in exchange for rescue loans by international creditors.
Failed Options
Attempts to find financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the harsh conditions were put to a public vote, a move that threw Europe into further existential crisis.
Although the vote was carried decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
This account of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
