In a newly released memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head mainly due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, in reality, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal agenda that involved promoting his books and experimenting with his own game theories using the nation instead of genuinely fighting for its economic stability.
Tsipras noted that those negotiations to prevent insolvency became “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake lay not only the country's future but also the severe austerity policies required in exchange for financial aid from international creditors.
Failed Options
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those harsh conditions were put to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the vote was carried decisively by those against austerity, Tsipras had little option to ignore the result and negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
He further claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
