Within his newly released personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the chaotic period of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, he appointed that unorthodox economist Yanis Varoufakis to be the finance minister mainly due to his international reputation and his “extremely attractive” skills as a communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had his own motives which included advancing his publications and experimenting with his game theories using Greece instead of truly advocating its financial survival.
He noted how those talks to avoid insolvency were “not just a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece found itself perilously close to leaving the single currency area.
On the line lay both the country's future and the harsh cutbacks demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action which plunged the EU into a further existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then agree to a bailout package from creditors which proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
