In a freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras appointed that unorthodox economist Yanis Varoufakis as his finance minister mainly due to the latter's international reputation along with his “extremely attractive” skills as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had his own agenda which included advancing his publications as well as experimenting with his own theories using the nation rather than truly advocating its economic stability.
He explained that the discussions to stave off insolvency became “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake was both the country's future but also the harsh cutbacks demanded in return for bailout funds by international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, a move that plunged the EU into further crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to ignore the result 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 his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also claimed how his confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
