Within his recently unveiled autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, he selected the unorthodox academic Yanis Varoufakis as his finance minister mainly because of the latter's international reputation and his very persuasive skills as a speaker.
“He was, in reality, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims how Varoufakis had his own agenda which included promoting Varoufakis's books and testing out his own economic models using the nation instead of genuinely fighting for its financial survival.
Tsipras explained how those talks to stave off bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During volatile discussions, the country came dangerously close to exiting the eurozone.
At stake lay both Greece's destiny and the punishing cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those harsh bailout terms were put to a popular referendum, an action that threw Europe into further crisis of identity.
Although the referendum was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
