In a newly released personal account, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as the finance minister largely because of his international reputation along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more like a star and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal motives that involved advancing his books as well as experimenting with his game theories on Greece instead of truly advocating the country's economic stability.
Tsipras explained that those talks to avoid insolvency became “not just a way to secure improved terms for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake was both the country's destiny but also the severe cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, a move which threw the EU into deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author asserts how his former ally had proved himself “unsuitable for a deal that required complex and sensitive handling.”
He also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
