In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that turbulent era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis to be the treasury head mainly due to his global profile and his “extremely attractive” abilities as a speaker.
“In reality, he was, actually, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief possessed his own agenda that involved advancing Varoufakis's books and experimenting with his own economic models using the nation rather than genuinely advocating its economic stability.
Tsipras noted that the discussions to prevent insolvency became “not just a method to secure improved terms for the country. They were an experiment, a monumental chance to prove the validity of his economic theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay not only the country's destiny and those punishing cutbacks demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a popular referendum, an action that plunged Europe into further existential crisis.
Even though the referendum was won resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate management.”
He further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The account of history has been met with fury and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
