Within his freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the chaotic period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, he chose the unorthodox academic Yanis Varoufakis to be the finance minister largely due to the latter's worldwide fame and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more like a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had his own agenda that involved promoting his publications and experimenting with his economic models on the nation instead of genuinely advocating the country's economic stability.
Tsipras wrote how those discussions to stave off insolvency became “not only a way to secure a better deal for Greece. They were a test, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to exiting the eurozone.
On the line was both the country's future and those punishing austerity policies demanded in return for bailout funds by international creditors.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a public vote, an action that plunged Europe into a further existential crisis.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that his former ally demonstrated himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
