In a newly released autobiography, called Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he selected that maverick academic Yanis Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more like a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his own game theories using the nation instead of truly advocating its financial survival.
Tsipras noted how the negotiations to prevent bankruptcy were “not only a way to secure a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake was not only Greece's destiny and the severe cutbacks required in return for bailout funds from international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move which threw the EU into a further existential crisis.
Although the vote was carried decisively by those against austerity, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating Grexit.
This account of history has provoked anger along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
