In a newly released autobiography, called Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, Tsipras appointed that unorthodox academic Yanis Varoufakis as his treasury head primarily due to the latter's worldwide fame and his very persuasive skills as a communicator.
“He was, in reality, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis possessed a personal motives that included promoting Varoufakis's books and experimenting with his economic models on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that the negotiations to stave off bankruptcy became “not just a method to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake was not only the country's future and the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action that threw the EU into further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras was forced to reject its outcome and agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed how Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating Grexit.
The retelling of events has been met with anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
