Within his newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the chaotic period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis as the treasury head primarily because of his international reputation and his highly compelling skills when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had his own motives which involved advancing Varoufakis's books as well as experimenting with his economic models using the nation instead of genuinely fighting for its financial survival.
Tsipras wrote how those negotiations to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
Amid volatile negotiations, Greece came perilously close to exiting the single currency area.
At stake lay both the country's future and those severe cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were put to a popular referendum, an action which threw Europe into further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome then agree to a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
He also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
This account of history has been met with fury along with shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
