In a recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, Tsipras selected that maverick economist Yanis Varoufakis as the finance minister primarily due to the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, actually, more of a personality and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief possessed his own motives that involved advancing Varoufakis's publications and experimenting with his own economic models on the nation instead of genuinely advocating its economic stability.
Tsipras noted how those negotiations to stave off bankruptcy became “not only a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's future and those severe austerity policies demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move which plunged the EU into deeper crisis of identity.
Although the vote was won resoundingly by voters against austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
