Within his recently unveiled personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on that turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, Tsipras chose that maverick economist Yanis Varoufakis to be the treasury head mainly because of the latter's international reputation along with his “extremely attractive” abilities when it came to speaker.
“He was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had his own motives which involved promoting his books and experimenting with his theories on Greece rather than truly fighting for the country's economic stability.
He wrote how those discussions to avoid insolvency became “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
During tense negotiations, Greece came perilously close to leaving the eurozone.
On the line lay both the country's destiny but also the severe austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were put to a public vote, an action which threw the EU into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement demanding complex and delicate handling.”
He also claimed how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
