In a freshly published autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, he chose that unorthodox economist Yanis Varoufakis to be his treasury head primarily due to his international reputation along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more like a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal agenda which involved advancing Varoufakis's books and experimenting with his own theories on the nation instead of genuinely fighting for its financial survival.
Tsipras wrote how those discussions to prevent insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his theories.”
Critical Talks
Amid volatile discussions, Greece came perilously close to leaving the single currency area.
On the line was both the country's future but also those severe cutbacks required in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount 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 subjected to a public vote, a move which plunged the EU into a deeper crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
This account of history has provoked fury and shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
