In a newly released personal account, called Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, he appointed that unorthodox academic Yanis Varoufakis as the finance minister primarily because of his global profile along with his “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had a personal motives that included promoting Varoufakis's publications and experimenting with his game theories using Greece instead of truly advocating its financial survival.
He explained how the discussions to stave off insolvency became “not only a method of achieving a better deal for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, the country came perilously close to leaving the eurozone.
On the line was not only the country's destiny and the severe austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action which threw Europe into a deeper crisis of identity.
Even though the vote was carried decisively by voters against the cuts, Tsipras was forced to reject its outcome and agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
