In a newly released personal account, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he appointed that maverick economist Yanis Varoufakis to be his finance minister primarily due to the latter's global profile along with his very persuasive skills when it came to public orator.
“He was, actually, more like a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges how his finance chief possessed a personal agenda that included promoting Varoufakis's books as well as testing out his own game theories using the nation instead of truly advocating its economic stability.
He wrote how the discussions to prevent insolvency became “not just a way to secure a better deal for the country. They became a test, a monumental chance to demonstrate the truth of his ideas.”
Critical Negotiations
During volatile discussions, the country came dangerously on the brink of exiting the single currency area.
At stake lay both Greece's future but also the punishing austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive conditions were put to a public vote, an action which threw Europe into a further existential crisis.
Although the vote was won resoundingly by voters against austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
