Within his recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his treasury head primarily because of his international reputation along with Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal agenda that involved advancing Varoufakis's publications and testing out his game theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained that the talks to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
During tense discussions, the country found itself perilously on the brink of leaving the single currency area.
On the line was both Greece's future and those punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move which plunged Europe into deeper existential crisis.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate handling.”
Tsipras also wrote how his aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
