In a recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the turbulent period of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras selected that unorthodox economist Yanis Varoufakis as the treasury head mainly because of his global profile and his highly compelling abilities when it came to communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had a personal motives which included advancing Varoufakis's books and experimenting with his own game theories using Greece instead of truly advocating its financial survival.
He wrote that those discussions to stave off insolvency became “not only a method to secure a better deal for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During tense discussions, Greece found itself perilously close to leaving the eurozone.
On the line was both the country's future and the harsh cutbacks required in return for rescue loans by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move that plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal with creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
He also wrote that his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for Grexit.
The account of events has been met with anger and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
