In a freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis as his finance minister largely because of his international reputation and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal motives that included advancing his publications and experimenting with his own game theories on the nation instead of truly fighting for its economic stability.
Tsipras explained that the talks to prevent bankruptcy were “not only a method to secure a better deal for the country. They were a test, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake was both Greece's destiny and the harsh austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh conditions were put to a popular referendum, a move which plunged the EU into a further crisis of identity.
Although the vote was won resoundingly by those against austerity, Tsipras had little option to reject its outcome and agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
