Within his freshly published memoir, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on that chaotic era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis to be his finance minister primarily due to his worldwide fame along with his highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis possessed his own agenda which included promoting his books and testing out his own economic models on Greece rather than truly fighting for its economic stability.
Tsipras explained how those talks to avoid bankruptcy became “not only a way of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously close to leaving the single currency area.
On the line was not only the country's destiny but also the harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to find financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action that threw the EU into a deeper existential crisis.
Even though the vote was won decisively by those against the cuts, Tsipras had little option to ignore the result then agree to a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
He further wrote that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
