Within his recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox academic Yanis Varoufakis as his finance minister largely due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had a personal agenda which involved advancing Varoufakis's books and experimenting with his own game theories on the nation rather than truly fighting for its financial survival.
Tsipras wrote that those negotiations to avoid insolvency became “not just a method to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake lay not only Greece's destiny but also the severe austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, the excoriating bailout terms were put to a public vote, an action which threw Europe into deeper existential crisis.
Even though the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and distributing coupons to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
The retelling of events has been met with fury along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
