Within his freshly published autobiography, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis to be the finance minister mainly because of his international reputation along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief had his own motives which involved promoting his publications and testing out his theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras wrote how the discussions to avoid bankruptcy were “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, the country found itself perilously on the brink of leaving the single currency area.
On the line lay not only the country's destiny and the punishing austerity policies demanded in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action which plunged the EU into a deeper existential crisis.
Although the vote was carried resoundingly by voters against austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
He also claimed how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
This account of events has been met with fury and shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
