Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, he selected the unorthodox academic Yanis Varoufakis as the treasury head primarily due to his international reputation along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, actually, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief had his own agenda that included advancing his publications as well as testing out his theories on the nation rather than truly fighting for its economic stability.
He wrote how the talks to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake lay both the country's future and the harsh austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move that plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unfit for an agreement demanding intricate and delicate handling.”
He also wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
