Within his freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he revisits the turbulent era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, Tsipras selected that unorthodox academic Yanis Varoufakis to be the finance minister mainly due to his international reputation and his highly compelling skills as a public orator.
“He was, truthfully, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief possessed a personal agenda that involved advancing his books and testing out his own theories using Greece instead of genuinely fighting for the country's financial survival.
Tsipras wrote how those negotiations to prevent insolvency became “not only a way of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During tense discussions, the country found itself perilously close to exiting the eurozone.
On the line was not only the country's future and the severe cutbacks required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move which threw the EU into further existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option but to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further claimed how his aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has provoked anger and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
