In a freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, Tsipras selected the unorthodox academic Yanis Varoufakis to be his finance minister primarily due to the latter's global profile and his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis had a personal agenda that involved advancing Varoufakis's publications and testing out his own economic models on the nation rather than truly advocating the country's financial survival.
Tsipras noted how the discussions to stave off bankruptcy became “not just a way to secure improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During tense negotiations, the country came perilously on the brink of exiting the eurozone.
On the line was both the country's destiny and those severe cutbacks required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were put to a public vote, a move which plunged Europe into further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
Tsipras further claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
The account of events has been met with fury along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
