Within his freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he examines the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, he appointed the unorthodox economist Yanis Varoufakis as the treasury head primarily due to the latter's global profile along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more of a star and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda that involved promoting his publications and testing out his own game theories using the nation instead of genuinely advocating its economic stability.
Tsipras wrote how those discussions to prevent insolvency became “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, the country came perilously close to exiting the single currency area.
At stake lay not only the country's future and the harsh austerity policies required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the punitive conditions were put to a public vote, a move which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras also wrote how his aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
The retelling of history has been met with fury along with shock in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
