In a newly released autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he selected the maverick economist Yanis Varoufakis as the treasury head mainly because of the latter's international reputation and his “extremely attractive” skills as a public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims that his finance chief possessed a personal agenda which included promoting Varoufakis's books and testing out his own game theories on the nation instead of truly fighting for the country's economic stability.
Tsipras noted how those negotiations to stave off bankruptcy became “not only a method to secure a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, the country found itself dangerously close to leaving the single currency area.
At stake lay not only the country's future and the harsh austerity measures required in return for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move which plunged Europe into a further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
