Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on that turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, Tsipras selected that maverick economist Yanis Varoufakis as the treasury head mainly because of the latter's international reputation along with his “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had his own agenda which involved promoting his publications and experimenting with his theories using the nation instead of truly advocating its economic stability.
He explained how those talks to stave off insolvency became “not only a way to secure improved terms for the country. They were a test, an historic chance to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the harsh cutbacks demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move which threw Europe into a deeper existential crisis.
Even though the referendum was carried decisively by those against austerity, the prime minister had little option to ignore the result then negotiate a rescue deal from creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts how Varoufakis had proved himself to be “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also wrote that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
