In a recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines the chaotic era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose that unorthodox academic Yanis Varoufakis as his finance minister mainly due to the latter's global profile and Varoufakis's highly compelling skills when it came to communicator.
“He was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had a personal agenda that included promoting Varoufakis's publications as well as testing out his own economic models on Greece instead of truly advocating the country's economic stability.
Tsipras wrote how the talks to avoid insolvency were “not only a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Talks
Amid volatile negotiations, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only the country's future but also the punishing austerity policies required in return for bailout funds by international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were put to a public vote, an action which threw the EU into further existential crisis.
Although the vote was won decisively by those against the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
He further wrote that his confrontational approach left him more and more alone among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked anger and shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
