Within his newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he reflects on the turbulent period during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head mainly because of his international reputation along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal agenda that included advancing his books as well as experimenting with his theories on the nation instead of genuinely advocating the country's financial survival.
Tsipras explained that those discussions to prevent bankruptcy were “not just a method of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself perilously on the brink of exiting the single currency area.
At stake lay not only the country's future but also those punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move which plunged the EU into further crisis of identity.
Even though the vote was won resoundingly by those against austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further claimed that his aggressive style left him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
