In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras appointed the unorthodox academic Yanis Varoufakis as the treasury head mainly due to his worldwide fame and Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief had a personal agenda which included advancing Varoufakis's publications as well as testing out his theories using Greece instead of genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to prevent insolvency were “not just a way to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay both the country's destiny but also the severe austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, an action which threw Europe into a further crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further claimed that his aggressive style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
