In a freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras selected that maverick economist Yanis Varoufakis as his treasury head primarily because of the latter's international reputation and his highly compelling abilities when it came to communicator.
“He was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis had his own motives that involved advancing his publications and testing out his own economic models on Greece instead of truly fighting for the country's economic stability.
Tsipras wrote that those discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They became a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
On the line was both Greece's destiny but also the severe cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, those harsh bailout terms were put to a popular referendum, a move that threw the EU into further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself “unsuitable for a deal demanding intricate and delicate management.”
Tsipras also wrote how his confrontational style made him more and more alone among peers, endangered the country, and helped hawks that were pushing for Grexit.
This account of events has been met with fury along with shock in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
