Within his recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, Tsipras appointed that unorthodox economist Yanis Varoufakis to be the treasury head largely due to the latter's international reputation and his highly compelling skills as a public orator.
“He was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims how his finance chief had a personal agenda which involved promoting his publications and testing out his own economic models on Greece instead of truly advocating its financial survival.
He wrote that those negotiations to stave off insolvency were “not only a way to secure improved terms for Greece. They were a test, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
On the line was not only Greece's destiny and the punishing austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by those who opposed austerity, Tsipras had little option but to reject its outcome then agree to a bailout package with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further claimed how his confrontational style left him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of events has been met with fury and shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
