Within his newly released autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's account, Tsipras selected the unorthodox economist Yanis Varoufakis to be his treasury head mainly due to his global profile along with his highly compelling skills as a public orator.
“He was, actually, more like a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief had his own agenda that included advancing his publications as well as testing out his own economic models using the nation instead of truly advocating its economic stability.
Tsipras explained how those discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake lay both Greece's destiny and those severe austerity measures required in exchange for rescue loans by international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras was forced to ignore the result and negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
He also claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, while the former minister has maintained a deafening silence on the matter.
