Within his freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he examines that turbulent era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, he chose that unorthodox academic Yanis Varoufakis as the treasury head mainly because of his international reputation and Varoufakis's very persuasive abilities when it came to public orator.
“He was, truthfully, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief had his own agenda which involved promoting Varoufakis's books as well as experimenting with his own game theories using the nation rather than truly advocating the country's financial survival.
Tsipras explained how those discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
During volatile negotiations, the country found itself perilously close to exiting the eurozone.
At stake lay both Greece's destiny but also the harsh austerity measures demanded in return for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were put to a public vote, a move that plunged Europe into a further existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself “unfit for an agreement that required complex and delicate management.”
Tsipras also claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating Grexit.
This account of history has been met with anger and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
