In a newly released autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he chose the unorthodox economist Yanis Varoufakis as his finance minister primarily because of the latter's international reputation along with his “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis had his own agenda which involved promoting Varoufakis's publications and testing out his economic models using Greece rather than genuinely advocating the country's financial survival.
He wrote how those negotiations to prevent insolvency were “not just a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to leaving the single currency area.
At stake was not only Greece's destiny and the punishing cutbacks demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating conditions were put to a popular referendum, a move which threw Europe into a further crisis of identity.
Although the referendum was carried decisively by those against the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency and issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal that required complex and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
