In a newly released autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines that turbulent era of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis as his treasury head mainly because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed a personal agenda which included advancing his books and testing out his game theories on Greece instead of genuinely fighting for its economic stability.
Tsipras noted that those talks to prevent bankruptcy were “not just a way to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came perilously on the brink of leaving the eurozone.
On the line lay both the country's destiny but also those punishing austerity policies demanded in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, an action that threw Europe into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating Grexit.
The account of history has provoked fury along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
