In a recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches while he examines that chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, he chose that maverick academic Yanis Varoufakis as his treasury head largely due to his international reputation and his very persuasive skills when it came to speaker.
“He was, truthfully, more like a star rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that his finance chief possessed his own agenda which included promoting Varoufakis's books as well as testing out his own game theories using the nation instead of genuinely advocating its economic stability.
He explained how the discussions to stave off insolvency were “not only a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself dangerously close to exiting the eurozone.
On the line was not only the country's destiny and the harsh austerity policies demanded in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a public vote, an action which threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
