In a recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he examines the turbulent era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, he selected the maverick academic Yanis Varoufakis to be the treasury head primarily due to the latter's global profile along with Varoufakis's highly compelling skills when it came to communicator.
“He was, truthfully, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis possessed a personal agenda that involved promoting Varoufakis's publications as well as experimenting with his game theories using the nation instead of genuinely advocating its economic stability.
Tsipras noted that the negotiations to prevent insolvency became “not just a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid tense negotiations, the country found itself perilously close to exiting the eurozone.
On the line was both Greece's destiny and those severe austerity measures required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, an action that plunged Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced to reject its outcome then agree to a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of history has provoked fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
