In a freshly published autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the turbulent period of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, he appointed that maverick academic Yanis Varoufakis as his treasury head largely due to his worldwide fame along with his “extremely attractive” skills when it came to public orator.
“He was, in reality, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had a personal agenda that included advancing Varoufakis's books as well as testing out his own theories on Greece rather than truly advocating the country's financial survival.
Tsipras wrote how those negotiations to prevent bankruptcy became “not just a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country came dangerously close to exiting the single currency area.
On the line was not only the country's future and those punishing austerity policies required in return for financial aid from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, an action which threw the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
