Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras pulls no punches as he reflects on the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, Tsipras selected the maverick economist Yanis Varoufakis as his finance minister largely due to the latter's international reputation along with his “extremely attractive” abilities when it came to communicator.
“In reality, he was, actually, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis possessed a personal motives which involved promoting Varoufakis's publications as well as testing out his theories using Greece rather than truly fighting for the country's financial survival.
Tsipras wrote how those discussions to avoid insolvency became “not only a method to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay not only the country's future but also the punishing austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a public vote, a move which plunged the EU into a further crisis of identity.
Even though the vote was carried decisively by voters against austerity, the prime minister had little option but to reject its outcome and negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the book, the author concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, and assisted hawks who were advocating Grexit.
This retelling of history has provoked anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
