In a recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he examines the turbulent era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed the unorthodox economist Yanis Varoufakis to be the treasury head largely because of the latter's worldwide fame and his highly compelling abilities when it came to speaker.
“In reality, he was, actually, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis possessed his own agenda which involved advancing Varoufakis's publications and testing out his own theories using Greece rather than truly fighting for its financial survival.
He explained that those negotiations to avoid bankruptcy became “not just a way of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's future but also the harsh cutbacks required in return for financial aid from foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, a move that threw the EU into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
He also claimed how Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and helped hawks who were advocating Grexit.
The retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
