Within his newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he chose that unorthodox academic Yanis Varoufakis as the treasury head largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” skills as a public orator.
“He was, actually, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal agenda which involved promoting Varoufakis's books and testing out his own game theories using Greece instead of truly fighting for the country's economic stability.
Tsipras noted that those discussions to stave off insolvency were “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came perilously close to leaving the eurozone.
At stake lay not only the country's future but also the harsh austerity measures demanded in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move which threw Europe into deeper existential crisis.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He also wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
This retelling of events has been met with anger along with shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
