Within his recently unveiled personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, he chose the unorthodox academic Yanis Varoufakis to be the finance minister largely because of his worldwide fame along with his very persuasive abilities as a public orator.
“In reality, he was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader alleges how his finance chief possessed his own agenda which included advancing Varoufakis's books and testing out his own economic models using the nation instead of truly fighting for the country's financial survival.
Tsipras wrote how the negotiations to prevent bankruptcy became “not just a way to secure a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously close to leaving the eurozone.
On the line was not only Greece's destiny but also those punishing austerity policies demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
