Within his recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be the finance minister largely due to his worldwide fame and his “extremely attractive” abilities as a communicator.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal agenda which involved promoting his publications and experimenting with his own game theories on Greece instead of genuinely fighting for the country's economic stability.
Tsipras wrote how the negotiations to avoid bankruptcy became “not only a method of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake was not only the country's destiny but also those harsh cutbacks required in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for a deal demanding complex and delicate handling.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
