Within his newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines the chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he selected that maverick economist Yanis Varoufakis as his treasury head mainly because of his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had a personal agenda which included advancing Varoufakis's books and experimenting with his own theories on the nation instead of truly advocating the country's economic stability.
He wrote that the talks to stave off insolvency became “not only a way to secure improved terms for the country. They were a test, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
During rollercoaster negotiations, the country came perilously on the brink of leaving the single currency area.
On the line was not only the country's future and those harsh cutbacks demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, those harsh conditions were subjected to a public vote, an action that plunged Europe into a deeper existential crisis.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal with creditors which turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
