Within his freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the chaotic era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, he selected that maverick academic Yanis Varoufakis to be his finance minister primarily because of the latter's worldwide fame and his “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more like a star and less of an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis had a personal agenda which included advancing his books and experimenting with his own game theories using Greece instead of truly fighting for its financial survival.
Tsipras explained how those negotiations to prevent insolvency were “not just a way of achieving improved terms for the country. They were an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay not only the country's destiny and the punishing austerity measures demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those punitive conditions were subjected to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the vote was won decisively by those who opposed austerity, Tsipras was forced to reject its outcome and agree to a bailout package with creditors that proved to be even harsher.
Final Straw
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 appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
