In a newly released autobiography, named Ithaki, the former leader Alexis Tsipras pulls no punches as he examines that chaotic era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, Tsipras appointed that maverick academic Yanis Varoufakis to be his treasury head mainly because of his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests that his finance chief had his own agenda that involved advancing his books as well as experimenting with his own game theories using Greece instead of genuinely fighting for its economic stability.
He wrote how the negotiations to stave off insolvency were “not only a way of achieving a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line was both Greece's future but also those harsh austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move that threw Europe into further existential crisis.
Although the vote was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
