In a newly released personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he chose the maverick academic Yanis Varoufakis to be his treasury head largely due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis had a personal motives which involved promoting his books and experimenting with his own economic models on Greece instead of genuinely fighting for its economic stability.
Tsipras wrote that the talks to avoid insolvency were “not only a method to secure a better deal for the country. They became an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Negotiations
During volatile negotiations, the country found itself dangerously close to leaving the eurozone.
At stake was both the country's destiny and the punishing cutbacks demanded in return for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were put to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The account of history has provoked anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
