Within his recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the chaotic era of Greece's financial crisis.
A Controversial Choice
As per Tsipras's recollections, he chose the maverick academic Yanis Varoufakis as his treasury head primarily because of his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis had his own agenda that involved advancing his books and testing out his game theories on Greece rather than truly fighting for the country's financial survival.
Tsipras noted that those negotiations to avoid insolvency became “not only a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During tense discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake lay not only the country's destiny and those harsh austerity policies required in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a public vote, an action which plunged Europe into further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras had little option to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unfit for a deal that required complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
