Within his newly released personal account, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the turbulent era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, Tsipras chose that maverick economist Yanis Varoufakis as the finance minister largely because of the latter's international reputation along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief possessed a personal agenda that involved advancing Varoufakis's publications as well as experimenting with his economic models on the nation rather than genuinely fighting for its economic stability.
He noted that the negotiations to prevent insolvency were “not just a method of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was both Greece's future and the harsh austerity measures required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those harsh conditions were subjected to a popular referendum, an action which plunged the EU into a further crisis of identity.
Even though the referendum was won decisively by those against austerity, the prime minister had little option but to reject its outcome then agree to a bailout package from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was the end questioning him: “Are you serious?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
