In a freshly published autobiography, named Ithaki, the former leader Alexis Tsipras pulls no punches while he examines that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis to be his finance minister largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a communicator.
“He was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own motives which included advancing Varoufakis's publications and experimenting with his game theories using the nation instead of genuinely fighting for its economic stability.
He explained how those talks to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country came perilously on the brink of leaving the single currency area.
On the line was both Greece's destiny and those harsh austerity policies required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action which threw the EU into further existential crisis.
Although the vote was carried resoundingly by voters against austerity, Tsipras had little option to reject its outcome and agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras further wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
