Within his newly released personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on that turbulent period during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, he chose that unorthodox economist Yanis Varoufakis to be the finance minister largely because of the latter's international reputation and Varoufakis's very persuasive skills as a communicator.
“He was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives that involved promoting Varoufakis's publications and testing out his own theories on the nation rather than truly fighting for its financial survival.
Tsipras explained that the negotiations to prevent bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the single currency area.
At stake was not only Greece's future and the punishing austerity policies required in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action which threw the EU into a further existential crisis.
Although the vote was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and agree to a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras also claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The account of events has been met with anger along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
