In a recently unveiled autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the chaotic era of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's account, he selected that unorthodox academic Yanis Varoufakis to be his finance minister primarily due to the latter's worldwide fame along with Varoufakis's very persuasive abilities as a public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis had his own agenda which included advancing Varoufakis's publications and experimenting with his economic models on the nation rather than truly fighting for its financial survival.
Tsipras explained that the discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself dangerously close to exiting the eurozone.
At stake lay both the country's future but also those severe cutbacks required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action that threw the EU into a further crisis of identity.
Although the vote was won decisively by voters against austerity, the prime minister was forced but to ignore the result and agree to a bailout package with foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He also wrote how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of history has provoked anger and shock in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
