Within his freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis as his finance minister largely because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had his own motives that involved advancing his publications as well as testing out his own economic models using the nation rather than genuinely advocating its economic stability.
Tsipras noted that those talks to prevent bankruptcy were “not just a method to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was both the country's destiny and those severe austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the punitive bailout terms were put to a popular referendum, a move which threw the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, Tsipras had little option but to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
He also wrote that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were advocating Grexit.
This retelling of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.
