In a freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras appointed the unorthodox academic Yanis Varoufakis to be his treasury head primarily because of his global profile and his very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis had his own agenda which involved promoting Varoufakis's publications as well as experimenting with his economic models using the nation rather than truly fighting for the country's financial survival.
Tsipras noted how those discussions to stave off bankruptcy became “not only a method to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay both the country's future and those punishing cutbacks demanded in return for rescue loans by international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, an action that threw Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He also wrote how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for Grexit.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
