Within his newly released personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed the unorthodox academic Yanis Varoufakis to be his treasury head mainly due to the latter's worldwide fame and his “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more like a star and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed his own motives that involved promoting Varoufakis's publications as well as experimenting with his own game theories on Greece instead of genuinely advocating the country's economic stability.
He explained how those discussions to prevent insolvency became “not just a way to secure improved terms for Greece. They became an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense negotiations, the country came perilously on the brink of leaving the eurozone.
On the line was both Greece's future and the punishing austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a public vote, a move that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
