Within his newly released autobiography, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's recollections, he selected the unorthodox economist Yanis Varoufakis to be the treasury head mainly because of the latter's worldwide fame and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis had his own agenda which included promoting Varoufakis's books as well as testing out his own game theories on the nation instead of truly advocating the country's financial survival.
Tsipras explained that the negotiations to prevent insolvency were “not only a method to secure improved terms for the country. They became a test, an historic chance to prove the truth of his economic theories.”
High-Stakes Talks
Amid volatile negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay not only Greece's future and the harsh austerity policies demanded in return for financial aid by international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, a move which threw the EU into a further existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option but to ignore the result and agree to a bailout package from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency and distributing coupons to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence on the matter.
