Within his recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, he selected the unorthodox economist Yanis Varoufakis as his treasury head primarily due to the latter's global profile and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had his own motives which involved promoting Varoufakis's publications and experimenting with his own game theories using the nation instead of genuinely fighting for the country's economic stability.
He wrote that those talks to avoid insolvency were “not only a way to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously close to leaving the single currency area.
On the line lay both the country's destiny but also those harsh austerity policies required in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move which threw Europe into a deeper crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
This retelling of events has been met with anger and shock among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
