In a newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, Tsipras chose that unorthodox economist Yanis Varoufakis to be the finance minister mainly because of the latter's international reputation along with his “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda that involved promoting Varoufakis's books as well as experimenting with his economic models using Greece rather than truly fighting for its financial survival.
Tsipras explained how the discussions to prevent insolvency were “not just a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself perilously close to leaving the eurozone.
At stake lay both Greece's destiny but also the punishing austerity policies demanded in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action that plunged the EU into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
This account of events has provoked anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
