In a freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, he chose the unorthodox academic Yanis Varoufakis as the finance minister mainly due to the latter's worldwide fame and his “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief had his own agenda that involved advancing Varoufakis's books as well as experimenting with his game theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras wrote that the discussions to prevent bankruptcy became “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of his theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously close to leaving the single currency area.
At stake lay both Greece's destiny but also the punishing austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action that plunged the EU into a further existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed that his confrontational approach left him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
The retelling of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
