Within his recently unveiled autobiography, titled Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits that turbulent era of Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, he chose that unorthodox economist Yanis Varoufakis as his finance minister largely because of the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis possessed his own motives that included promoting his books as well as testing out his game theories on Greece rather than truly advocating the country's financial survival.
Tsipras wrote how those negotiations to avoid bankruptcy became “not just a way to secure a better deal for Greece. They became a test, an historic opportunity to prove the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself dangerously close to leaving the single currency area.
On the line lay both the country's future but also those severe cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were put to a public vote, a move that threw the EU into further crisis of identity.
Although the referendum was won decisively by voters against austerity, Tsipras had little option to ignore the result then agree to a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive management.”
He further wrote how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
