In a recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras chose the unorthodox economist Yanis Varoufakis as the treasury head largely because of the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own agenda that included advancing his publications as well as experimenting with his own game theories on Greece rather than truly fighting for its economic stability.
He wrote how the discussions to prevent bankruptcy became “not only a way to secure a better deal for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself perilously close to leaving the single currency area.
On the line lay both the country's future and those punishing austerity policies required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive bailout terms were put to a public vote, an action which threw Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result and agree to a rescue deal with creditors that proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has been met with anger and shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
