In a freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on that chaotic era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras appointed the unorthodox economist Yanis Varoufakis to be the finance minister largely because of his worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests that his finance chief had his own agenda which involved advancing Varoufakis's publications as well as testing out his own theories using the nation rather than genuinely advocating the country's financial survival.
He explained how the discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake was not only Greece's destiny and the severe cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were put to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the vote was won decisively by those who opposed austerity, the prime minister had little option to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
He also wrote how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
