Within his newly released personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras appointed the unorthodox economist Yanis Varoufakis to be his finance minister mainly due to the latter's international reputation and his highly compelling abilities as a public orator.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal motives which included advancing his books as well as experimenting with his own game theories using Greece instead of truly advocating the country's economic stability.
Tsipras noted how those talks to avoid bankruptcy became “not just a method to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, the country came perilously close to exiting the eurozone.
On the line was not only Greece's destiny and those punishing austerity policies required in return for rescue loans by foreign lenders.
Failed Options
Attempts to find financing from other sources, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move which threw Europe into a further existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister had little option to ignore the result and negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself “unfit for a deal demanding complex and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This account of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
