Within his freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras appointed that unorthodox economist Yanis Varoufakis as his finance minister mainly due to the latter's global profile and his highly compelling skills when it came to public orator.
“In reality, he was, truthfully, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges how his finance chief had a personal motives which involved promoting his publications and testing out his economic models using Greece rather than genuinely advocating the country's financial survival.
He explained how those negotiations to prevent insolvency were “not only a method to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay both the country's future but also the severe austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, a move which threw Europe into a deeper existential crisis.
Although the vote was won decisively by those against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis had proved himself “unfit for a deal that required complex and sensitive management.”
Tsipras further wrote how his confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
The retelling of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
