Within his newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that turbulent period of Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, he chose the unorthodox economist Yanis Varoufakis as the treasury head primarily because of the latter's global profile and Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed his own motives which included advancing Varoufakis's books as well as testing out his own economic models on the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted how the negotiations to prevent bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to exiting the eurozone.
On the line was not only the country's future but also those punishing austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, the harsh conditions were put to a popular referendum, an action that plunged the EU into a further existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option to ignore the result and negotiate a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan that included creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and sensitive management.”
He also claimed how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
The account of events has been met with anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
