In a newly released autobiography, named Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on that turbulent period during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, he selected the unorthodox economist Yanis Varoufakis to be the finance minister largely due to the latter's international reputation along with his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis had his own motives that involved advancing his books and testing out his theories on the nation rather than genuinely fighting for its economic stability.
Tsipras wrote how those talks to avoid insolvency became “not just a method to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay not only Greece's future but also those harsh austerity policies demanded in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a public vote, an action that threw the EU into a deeper existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras was forced to ignore the result then agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of publications globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The account of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
