Within his freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's version, he appointed that maverick academic Yanis Varoufakis as his finance minister mainly due to the latter's international reputation along with Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis had a personal agenda that included advancing Varoufakis's books and testing out his own theories on Greece instead of truly advocating its economic stability.
Tsipras explained how the discussions to avoid bankruptcy became “not just a way of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of his theories.”
Critical Negotiations
During tense negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity measures required in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action which threw the EU into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister had little option but to ignore the result then negotiate a bailout package with creditors that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author concludes how his former ally had proved himself “unfit for an agreement that required complex and sensitive handling.”
He further wrote that his confrontational style made him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
The retelling of events has been met with anger and shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
