In a freshly published personal account, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the chaotic period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected the unorthodox economist Yanis Varoufakis as the finance minister largely due to his worldwide fame along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own agenda that included promoting his books and testing out his own theories on Greece instead of genuinely advocating its financial survival.
He wrote how the discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both Greece's destiny but also those punishing austerity measures required in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
