Within his newly released autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's account, he chose the maverick economist Yanis Varoufakis to be his finance minister largely due to the latter's global profile and Varoufakis's highly compelling skills as a public orator.
“He was, truthfully, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief possessed his own agenda that involved promoting Varoufakis's books and experimenting with his own theories using Greece instead of genuinely advocating the country's financial survival.
He explained how those talks to stave off insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was both Greece's destiny but also those harsh austerity measures required in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, a move which plunged the EU into further existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result and agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”
He further claimed that his confrontational style made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
