Within his freshly published autobiography, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, he appointed that maverick economist Yanis Varoufakis as the treasury head largely due to the latter's global profile along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis had his own motives that included advancing his publications as well as experimenting with his economic models using Greece instead of truly advocating the country's financial survival.
Tsipras wrote how those talks to prevent bankruptcy became “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously close to leaving the single currency area.
On the line was both the country's destiny and those harsh austerity policies required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister had little option but to ignore the result and agree to a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
