In a newly released autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras chose the maverick economist Yanis Varoufakis as the treasury head mainly because of his international reputation along with his highly compelling abilities when it came to communicator.
“He was, actually, more of a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had a personal agenda which involved advancing Varoufakis's books as well as experimenting with his own game theories using Greece instead of genuinely fighting for the country's economic stability.
He explained how those discussions to prevent insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
During volatile negotiations, the country found itself dangerously close to exiting the eurozone.
At stake lay both Greece's future and those severe cutbacks required in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged the EU into a deeper crisis of identity.
Even though the vote was won resoundingly by voters against austerity, the prime minister was forced to ignore the result and agree to a rescue deal from creditors that proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of magazines globally … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal that required intricate and delicate handling.”
He also claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
