In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines that chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief possessed a personal motives that involved advancing his books and experimenting with his economic models on the nation instead of truly fighting for its economic stability.
Tsipras explained that those discussions to prevent bankruptcy were “not just a method to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future but also the punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his confrontational style left him more and more alone among peers, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
