In a recently unveiled personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent era of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head largely because of his global profile and Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis had a personal motives which included advancing his books and testing out his game theories using Greece instead of truly fighting for its economic stability.
Tsipras explained how the talks to prevent bankruptcy were “not only a way to secure improved terms for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, the country came dangerously close to exiting the eurozone.
At stake lay not only the country's destiny but also those severe austerity policies required in return for financial aid by international creditors.
Failed Options
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were put to a public vote, a move which threw the EU into a deeper existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result and agree to a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
He further wrote that Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The account of history has been met with fury and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
