In a freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, he selected the unorthodox academic Yanis Varoufakis as his treasury head primarily because of the latter's worldwide fame and his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed a personal agenda that included promoting Varoufakis's books and experimenting with his theories on Greece rather than genuinely fighting for its financial survival.
Tsipras explained that those negotiations to avoid insolvency were “not just a method of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only the country's future and the severe austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into further existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further wrote how his confrontational approach left him more and more alone among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of history has provoked anger and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
