In a newly released autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits that chaotic era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose the maverick economist Yanis Varoufakis as his treasury head primarily due to his international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief had a personal motives which included advancing Varoufakis's publications as well as testing out his own game theories using Greece instead of genuinely fighting for the country's economic stability.
He wrote that those discussions to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, the country found itself perilously close to exiting the eurozone.
At stake lay not only the country's destiny and the harsh austerity policies required in return for rescue loans by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Although the referendum was won resoundingly by those against austerity, the prime minister was forced but to ignore the result then agree to a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
The retelling of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
