Within his newly released autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's version, he selected the maverick economist Yanis Varoufakis as the finance minister primarily due to his worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own motives which involved promoting his books and testing out his own game theories on Greece rather than truly advocating the country's economic stability.
Tsipras wrote how those discussions to avoid insolvency became “not just a method to secure improved terms for Greece. They were a test, an historic chance to prove the truth of his ideas.”
Critical Talks
Amid volatile discussions, Greece came dangerously close to leaving the eurozone.
On the line was not only the country's future but also the severe austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action which plunged Europe into deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome then agree to a bailout package from creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive handling.”
He further wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for Grexit.
The retelling of history has been met with anger and shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
