In a newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose the unorthodox academic Yanis Varoufakis to be his treasury head mainly because of the latter's international reputation along with Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal agenda which involved advancing his publications and experimenting with his economic models on the nation instead of genuinely fighting for its financial survival.
He noted that those discussions to avoid insolvency were “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country found itself dangerously close to exiting the single currency area.
On the line lay not only Greece's future and the severe austerity measures demanded in return for rescue loans by international creditors.
Failed Options
Attempts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action which plunged Europe into further existential crisis.
Even though the referendum was carried decisively by those against austerity, the prime minister had little option to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while helped hardliners 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 kept a deafening silence on the matter.
