Within his freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on the chaotic era of Greece's financial crisis.
A Controversial Choice
In Tsipras's account, he selected that maverick academic Yanis Varoufakis to be the finance minister largely because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had his own motives that involved advancing Varoufakis's publications and experimenting with his own game theories on Greece rather than truly fighting for its financial survival.
Tsipras wrote that the discussions to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay both the country's future but also those punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, a move which plunged the EU into further crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package with foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt 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 was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He further claimed that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
