Within his freshly published autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, Tsipras chose that unorthodox economist 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 rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had a personal motives which involved advancing Varoufakis's publications as well as testing out his own game theories on the nation instead of genuinely advocating the country's economic stability.
He noted that the discussions to stave off bankruptcy were “not only a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line was both Greece's future but also the punishing austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, an action that plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, the leader said he realised it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
Tsipras also claimed how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
