In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he revisits that turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, Tsipras selected that unorthodox economist Yanis Varoufakis as the treasury head primarily due to the latter's worldwide fame and his very persuasive abilities when it came to public orator.
“He was, truthfully, more like a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had a personal agenda which involved advancing his books as well as experimenting with his own game theories on Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained that those discussions to prevent bankruptcy were “not just a way of achieving a better deal for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and the harsh austerity measures demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a popular referendum, an action that threw Europe into a further existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
He further wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating Grexit.
The account of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
