In a recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that turbulent period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras appointed the unorthodox academic Yanis Varoufakis as the treasury head mainly because of his worldwide fame along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more like a star and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed his own motives that included advancing his books as well as experimenting with his own economic models using Greece instead of truly advocating the country's economic stability.
He wrote how those negotiations to prevent bankruptcy were “not only a method to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, Greece came dangerously close to exiting the eurozone.
At stake lay not only Greece's destiny but also the harsh cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He also claimed that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
This account of history has provoked fury and shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
