Within his recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that turbulent era of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis to be the finance minister primarily because of the latter's global profile and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his own game theories on Greece instead of truly fighting for the country's financial survival.
Tsipras noted that the discussions to prevent insolvency were “not just a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
Amid tense negotiations, Greece came dangerously close to leaving the eurozone.
At stake was not only Greece's destiny but also the severe austerity measures demanded in return for bailout funds by international creditors.
Failed Options
Efforts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, an action which threw the EU into further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate handling.”
He further claimed that his confrontational style made him more and more alone among peers, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
