In a freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits that turbulent period of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis as his finance minister mainly because of the latter's worldwide fame along with Varoufakis's highly compelling abilities as a public orator.
“He was, truthfully, more of a star and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief possessed a personal motives that included advancing Varoufakis's books as well as testing out his game theories using Greece rather than truly fighting for the country's financial survival.
He noted how the discussions to stave off insolvency were “not just a way to secure improved terms for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.
At stake was not only Greece's future but also those punishing cutbacks required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the punitive bailout terms were put to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing coupons to retirees, the leader said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
