Within his freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras chose that unorthodox economist Yanis Varoufakis as the finance minister mainly because of his worldwide fame and his “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal agenda which involved promoting his books as well as testing out his game theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras wrote that the negotiations to avoid bankruptcy became “not only a method to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came dangerously close to leaving the single currency area.
At stake lay both Greece's destiny and the harsh austerity measures required in return for financial aid from foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that plunged the EU into further crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
Tsipras also wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for Grexit.
The account of events has been met with anger along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
