Within his recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the turbulent period during Greece's debt drama.
A Controversial Appointment
In Tsipras's account, he chose the unorthodox economist Yanis Varoufakis as his treasury head mainly due to the latter's international reputation and his “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal agenda which included advancing his publications as well as experimenting with his game theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras explained how those talks to avoid insolvency became “not only a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny and those severe austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a public vote, a move that plunged Europe into a deeper existential crisis.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
