Within his freshly published autobiography, named Ithaki, the former leader Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, he chose the maverick economist Yanis Varoufakis as his treasury head largely because of the latter's global profile along with his “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief had his own motives which included advancing his books and experimenting with his economic models using the nation rather than truly advocating the country's financial survival.
He noted that the discussions to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were a test, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Talks
During tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake was not only the country's future and those punishing austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those excoriating conditions were subjected to a public vote, a move which threw Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced to ignore the result and negotiate a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He also claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
The retelling of history has provoked anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
