Within his recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on that chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, he chose the maverick economist Yanis Varoufakis as the treasury head primarily due to the latter's worldwide fame along with his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis possessed a personal motives which included promoting his publications and experimenting with his own economic models using the nation instead of genuinely fighting for the country's economic stability.
Tsipras noted how those talks to stave off insolvency were “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of his theories.”
Critical Negotiations
During tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's destiny but also the harsh austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were put to a public vote, a move that plunged Europe into a deeper crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how Varoufakis had proved himself to be “unfit for an agreement demanding complex and sensitive management.”
He also wrote that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
The retelling of history has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
