Within his freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, Tsipras appointed the maverick economist Yanis Varoufakis as his treasury head primarily because of the latter's worldwide fame and Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, in reality, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had his own motives which involved advancing Varoufakis's books as well as experimenting with his economic models using the nation rather than truly fighting for the country's economic stability.
He noted how the negotiations to stave off insolvency were “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During tense discussions, Greece came perilously on the brink of leaving the single currency area.
At stake lay both Greece's destiny and those punishing austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move which threw the EU into further existential crisis.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
