In a freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's version, Tsipras chose that unorthodox economist Yanis Varoufakis to be his finance minister primarily due to his global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief had his own agenda that included advancing Varoufakis's books and testing out his own economic models using the nation rather than genuinely advocating the country's financial survival.
He wrote how the discussions to prevent bankruptcy were “not only a method to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only the country's destiny but also the harsh austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
