Within his recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the chaotic period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, he selected the unorthodox academic Yanis Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's very persuasive skills when it came to communicator.
“He was, in reality, more like a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had his own agenda that involved promoting Varoufakis's publications and testing out his economic models on the nation instead of genuinely advocating its financial survival.
He wrote that the discussions to avoid bankruptcy became “not only a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's future and the severe austerity policies required in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was game over and asked him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unfit for an agreement that required complex and sensitive management.”
Tsipras further wrote that his confrontational approach made him more and more alone among peers, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of events has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
