In a newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's account, Tsipras appointed that maverick academic Yanis Varoufakis as his treasury head mainly due to his international reputation along with his highly compelling skills as a communicator.
“He was, in reality, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis had his own agenda which included promoting his books as well as experimenting with his game theories using the nation instead of truly advocating its economic stability.
He explained how the negotiations to prevent bankruptcy were “not just a method of achieving improved terms for the country. They were a test, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster discussions, Greece came dangerously close to exiting the single currency area.
At stake lay both the country's future and those punishing austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh bailout terms were put to a public vote, an action that plunged Europe into a deeper existential crisis.
Although the vote was won resoundingly by those against the cuts, Tsipras had little option to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a parallel currency and distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also wrote how his confrontational style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked fury and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
