In a freshly published memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back while he revisits that chaotic period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, he selected the maverick academic Yanis Varoufakis as his finance minister mainly because of the latter's international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, in reality, more of a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed his own agenda which involved advancing Varoufakis's books and experimenting with his game theories on the nation rather than truly advocating the country's financial survival.
Tsipras explained that the discussions to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, the country found itself perilously close to leaving the eurozone.
On the line was both the country's destiny and the punishing cutbacks demanded in exchange for bailout funds by international creditors.
Failed Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action that plunged the EU into further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package from creditors which proved to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included creating a parallel currency and issuing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras further claimed how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
This account of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
