Within his recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the chaotic period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, he appointed the unorthodox academic Yanis Varoufakis as the finance minister mainly because of his global profile and his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal agenda which included promoting his publications as well as testing out his own economic models on Greece rather than truly advocating its financial survival.
Tsipras noted how those discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the single currency area.
At stake was not only the country's destiny and the harsh austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unfit for a deal that required intricate and delicate management.”
Tsipras also claimed that his confrontational approach made him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with anger and shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
