In a freshly published autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on that chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis to be the finance minister mainly due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to public orator.
“He was, truthfully, more like a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief had a personal agenda which involved promoting Varoufakis's publications and experimenting with his theories using Greece instead of genuinely fighting for its financial survival.
Tsipras explained that those negotiations to prevent insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
Amid volatile negotiations, the country found itself perilously on the brink of exiting the single currency area.
On the line was both the country's future but also those severe austerity measures demanded in exchange for financial aid by foreign lenders.
Failed Options
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action which threw the EU into further crisis of identity.
Although the vote was carried decisively by those who opposed austerity, the prime minister had little option but to ignore the result then agree to a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts how Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive management.”
He also claimed how his aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
