Within his freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits that turbulent period during Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with his very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed a personal agenda which involved promoting his books as well as experimenting with his theories on Greece rather than truly advocating its financial survival.
Tsipras wrote how the discussions to stave off bankruptcy became “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only the country's future and those punishing austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move that threw the EU into further crisis of identity.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result and agree to a bailout package with creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He also wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.
