Within his recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, he selected the maverick academic Yanis Varoufakis to be the treasury head primarily because of his global profile and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had a personal motives which involved advancing Varoufakis's publications as well as experimenting with his economic models using the nation rather than truly advocating the country's economic stability.
He noted that those talks to avoid bankruptcy became “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his economic theories.”
Critical Talks
Amid rollercoaster discussions, the country came dangerously on the brink of exiting the single currency area.
On the line lay both the country's destiny and those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move which threw the EU into a further crisis of identity.
Although the vote was won resoundingly by those against austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and distributing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
He further claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
