In a recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he selected the unorthodox academic Yanis Varoufakis to be his treasury head mainly due to the latter's international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal motives that included promoting his publications as well as experimenting with his own game theories using the nation rather than truly fighting for the country's financial survival.
He noted how those negotiations to stave off bankruptcy became “not only 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 Negotiations
During volatile negotiations, Greece came perilously close to leaving the single currency area.
On the line was both Greece's future and those punishing austerity measures required in return for financial aid from foreign lenders.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were put to a popular referendum, a move that plunged Europe into a further existential crisis.
Although the referendum was carried resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
He also claimed how his aggressive style left him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of events has provoked fury along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
