In a newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines the chaotic period of Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, he selected that unorthodox academic Yanis Varoufakis to be his finance minister mainly because of the latter's global profile and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more of a star rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal agenda which included promoting his books as well as testing out his theories using Greece instead of truly fighting for its financial survival.
Tsipras wrote that those talks to prevent bankruptcy were “not just a way of achieving a better deal for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, Greece found itself perilously close to leaving the single currency area.
At stake lay both Greece's future but also those severe austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Although the vote was won decisively by those who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency and distributing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how his confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
