Within his recently unveiled personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis as his treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive skills as a communicator.
“He was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had a personal agenda that involved promoting Varoufakis's publications as well as experimenting with his game theories using the nation instead of genuinely advocating the country's financial survival.
Tsipras explained that the negotiations to prevent insolvency were “not only a way of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay both Greece's future and those punishing austerity measures demanded in return for financial aid by international creditors.
Failed Options
Attempts to find funds elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a parallel currency and issuing coupons to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
