Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits the chaotic era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, he appointed the maverick academic Yanis Varoufakis as his treasury head mainly because of his international reputation and Varoufakis's very persuasive skills when it came to public orator.
“He was, in reality, more of a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had a personal motives that involved advancing his books as well as testing out his own theories using Greece instead of truly advocating its economic stability.
He explained how those negotiations to prevent insolvency became “not only a way of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake was not only the country's future and those severe cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the harsh conditions were put to a public vote, an action which threw the EU into deeper crisis of identity.
Even though the vote was won resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote how his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
