Within his freshly published autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, he appointed that unorthodox economist Yanis Varoufakis as his treasury head mainly due to the latter's global profile along with his “extremely attractive” skills as a public orator.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges that his finance chief possessed a personal motives which included promoting Varoufakis's books and testing out his own economic models on Greece rather than genuinely fighting for its financial survival.
He explained how those talks to avoid bankruptcy were “not only a method of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake was not only the country's future but also the harsh austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome then negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further wrote how his aggressive style made him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
The account of events has provoked anger along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
