Within his freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he reflects on that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head largely because of his worldwide fame along with his “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis possessed his own agenda which involved advancing Varoufakis's books as well as testing out his own economic models on the nation instead of genuinely advocating its economic stability.
He noted that the negotiations to avoid bankruptcy were “not only a method to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of his theories.”
Critical Negotiations
Amid tense discussions, Greece came perilously on the brink of leaving the single currency area.
At stake was not only Greece's destiny and those severe austerity policies required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, an action which plunged Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced to ignore the result and agree to a bailout package with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
He further claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
The retelling of events has provoked fury along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
