In a newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, Tsipras chose the maverick economist Yanis Varoufakis as his finance minister mainly due to the latter's global profile along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests that his finance chief possessed a personal agenda which involved promoting his publications and experimenting with his own theories on Greece instead of genuinely advocating its economic stability.
Tsipras noted how the talks to stave off insolvency became “not just a method to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's future and the punishing austerity measures required in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, a move that threw Europe into further crisis of identity.
Although the vote was carried decisively by voters against austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors that proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
