In a freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines the turbulent period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he appointed that unorthodox economist Yanis Varoufakis as his finance minister primarily because of his worldwide fame and his “extremely attractive” abilities when it came to speaker.
“He was, actually, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief had his own motives which included promoting Varoufakis's publications as well as experimenting with his own game theories on the nation rather than genuinely fighting for its economic stability.
Tsipras wrote that the talks to avoid insolvency were “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself perilously close to leaving the eurozone.
At stake was not only the country's destiny but also those harsh austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, an action which plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by those who opposed austerity, the prime minister was forced but to ignore the result then negotiate a bailout package with foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
This retelling of events has been met with fury and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
