In a recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back while he examines that chaotic period during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, he selected that maverick economist Yanis Varoufakis to be the finance minister primarily because of the latter's worldwide fame and his highly compelling skills when it came to public orator.
“In reality, he was, in reality, more of a star rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal agenda that involved advancing Varoufakis's publications and experimenting with his own economic models using the nation rather than genuinely fighting for its financial survival.
Tsipras explained how those talks to avoid insolvency became “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Talks
Amid tense discussions, Greece came perilously close to exiting the single currency area.
On the line lay both the country's destiny but also those harsh austerity measures demanded in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Although the vote was carried decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal that required complex and delicate management.”
Tsipras also claimed how his confrontational approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked anger along with shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
