Within his recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's account, Tsipras appointed the unorthodox academic Yanis Varoufakis as the treasury head largely due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, truthfully, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had his own motives that included promoting his publications as well as experimenting with his game theories on Greece instead of truly fighting for the country's financial survival.
Tsipras explained how those discussions to stave off bankruptcy became “not just a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's future and the harsh austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, a move that threw the EU into a deeper existential crisis.
Although the vote was carried decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes how his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The retelling of events has provoked anger and shock among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
