In a freshly published autobiography, called Ithaki, the former premier Tsipras pulls no punches as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, he selected that unorthodox academic Yanis Varoufakis as the finance minister largely due to the latter's international reputation and Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more like a celebrity and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis possessed a personal agenda that included promoting Varoufakis's publications as well as experimenting with his own theories on the nation instead of genuinely fighting for its economic stability.
Tsipras explained that those discussions to prevent insolvency were “not only a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and those punishing austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the excoriating conditions were subjected to a public vote, a move that threw Europe into deeper crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed that his confrontational style made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
