Within his newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the turbulent period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his global profile and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis had his own agenda that involved advancing his books as well as testing out his economic models using the nation instead of genuinely advocating the country's economic stability.
Tsipras wrote how those negotiations to stave off insolvency became “not just a way to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During tense discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's future and those harsh cutbacks demanded in return for bailout funds from international creditors.
Failed Alternatives
Attempts to find financing from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh bailout terms were put to a public vote, a move which threw Europe into a further existential crisis.
Even though the vote was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further claimed how his aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
This account of history has been met with fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
