Within his recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's account, Tsipras selected that unorthodox academic Yanis Varoufakis as the finance minister primarily because of the latter's global profile along with his highly compelling skills as a public orator.
“He was, in reality, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis possessed his own motives that included promoting Varoufakis's publications as well as experimenting with his own economic models on the nation rather than genuinely fighting for its financial survival.
He noted how those talks to stave off bankruptcy became “not only a method to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece found itself perilously close to leaving the single currency area.
At stake was not only Greece's future but also the harsh austerity policies required in exchange for rescue loans from international creditors.
Failed Options
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were put to a public vote, a move that plunged Europe into further crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and agree to a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and distributing coupons to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras further wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
This account of events has provoked anger and shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
