Within his freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on the chaotic era during Greece's financial crisis.
A Controversial Choice
In Tsipras's account, he chose the unorthodox academic Yanis Varoufakis to be the treasury head mainly because of the latter's worldwide fame along with his highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal motives which included advancing his books as well as experimenting with his game theories using the nation rather than truly advocating its economic stability.
Tsipras wrote that the negotiations to prevent insolvency became “not just a way to secure a better deal for Greece. They were a test, an historic chance to prove the validity of his theories.”
Critical Talks
Amid tense discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake was not only the country's destiny but also those punishing cutbacks required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result then agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He further wrote how Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
