In a recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras selected that maverick economist Yanis Varoufakis to be his treasury head largely because of the latter's global profile and his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a star rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal motives which involved promoting his publications as well as testing out his game theories using the nation instead of genuinely fighting for its financial survival.
Tsipras noted how the discussions to stave off bankruptcy became “not only a way of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
On the line was both the country's future and the harsh cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, the punitive bailout terms were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Even though the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required complex and delicate management.”
He also claimed how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for Grexit.
The account of events has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
