In a recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines that turbulent era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he selected the unorthodox economist Yanis Varoufakis as his finance minister primarily due to the latter's worldwide fame and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed a personal agenda that involved promoting his publications and testing out his economic models using the nation instead of genuinely advocating the country's financial survival.
He wrote how the negotiations to stave off bankruptcy were “not just a way to secure a better deal for the country. They were a test, a monumental chance to prove the truth of his theories.”
Critical Negotiations
During volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake was both the country's future and the severe austerity measures demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those harsh bailout terms were subjected to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the vote was won resoundingly by those against austerity, Tsipras had little option but to ignore the result and negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts how his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
The retelling of history has provoked anger and shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
