Within his recently unveiled personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, Tsipras appointed that maverick academic Yanis Varoufakis as the finance minister primarily because of his international reputation along with his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had his own motives which included promoting Varoufakis's publications as well as experimenting with his theories on the nation rather than truly fighting for the country's financial survival.
Tsipras explained that those negotiations to avoid insolvency became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his theories.”
Critical Negotiations
Amid volatile negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny but also those punishing austerity policies demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh conditions were subjected to a popular referendum, an action that plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal from creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating Grexit.
This account of events has provoked fury and shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
