In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines that chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed that maverick academic Yanis Varoufakis as the finance minister mainly because of the latter's international reputation and his very persuasive abilities as a speaker.
“He was, truthfully, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis possessed a personal motives which involved promoting his books and experimenting with his theories using the nation rather than genuinely fighting for the country's financial survival.
Tsipras noted how the negotiations to stave off insolvency became “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's future and those severe cutbacks demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, an action which threw the EU into a deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to ignore the result then agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal that required intricate and sensitive management.”
Tsipras also claimed that his confrontational style made him more and more alone among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
