Within his newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, he chose the unorthodox economist Yanis Varoufakis to be the finance minister mainly due to the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis had a personal agenda that included advancing his publications as well as testing out his theories on the nation instead of genuinely advocating its economic stability.
Tsipras noted how those negotiations to avoid insolvency were “not just a method to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
During volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake lay not only the country's destiny but also the severe austerity policies required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action that plunged the EU into a deeper crisis of identity.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further claimed how his confrontational approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
This account of history has been met with anger and shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
