Within his freshly published memoir, called Ithaki, the former premier Alexis Tsipras does not hold back as he examines that chaotic era of Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, Tsipras chose that unorthodox economist Varoufakis to be his finance minister primarily because of his global profile along with Varoufakis's highly compelling skills as a public orator.
“He was, actually, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal agenda which included advancing Varoufakis's books and experimenting with his game theories on Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted how the talks to prevent insolvency became “not only a method to secure improved terms for Greece. They became a test, an historic chance to prove the validity of his theories.”
Critical Negotiations
During volatile discussions, Greece came perilously on the brink of exiting the eurozone.
At stake lay both the country's future but also those harsh austerity policies demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action which threw Europe into further existential crisis.
Although the vote was carried resoundingly by those against the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package with foreign lenders that proved to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and distributing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive handling.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
