Within his freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras chose that unorthodox economist Yanis Varoufakis as the finance minister primarily because of the latter's global profile along with his “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had a personal agenda that included promoting his publications as well as testing out his theories using the nation rather than genuinely advocating the country's economic stability.
Tsipras explained how the negotiations to avoid bankruptcy were “not only a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously close to exiting the eurozone.
At stake lay both Greece's destiny but also the punishing austerity policies demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, a move that plunged Europe into a deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, the leader said he realised it was game over and asked him: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis had proved himself “unfit for a deal demanding intricate and sensitive handling.”
He also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
