In a recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism as he examines that chaotic period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, he appointed the unorthodox economist Yanis Varoufakis as his treasury head primarily because of his international reputation and his “extremely attractive” skills as a speaker.
“He was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis possessed a personal agenda that included advancing Varoufakis's books as well as testing out his theories on the nation instead of truly advocating its economic stability.
He wrote that those talks to prevent insolvency became “not just a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.
On the line was both the country's future and those harsh austerity policies demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action which threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result then negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed 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 appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to retirees, Tsipras knew that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, the author asserts how Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive management.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
