Within his freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he chose that unorthodox academic Yanis Varoufakis as his treasury head largely because of the latter's international reputation and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief possessed his own motives that included promoting Varoufakis's books as well as experimenting with his economic models using the nation instead of truly advocating the country's financial survival.
Tsipras wrote that the discussions to stave off bankruptcy became “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
At stake lay both the country's destiny and the punishing cutbacks demanded in exchange for rescue loans from international creditors.
Failed Options
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were put to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was won decisively by voters against the cuts, Tsipras was forced to reject its outcome then agree to a bailout package with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
He further wrote that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
This retelling of events has been met with fury along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
