In a freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the turbulent period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, he selected that maverick economist Varoufakis to be his treasury head primarily because of the latter's worldwide fame along with his very persuasive abilities as a public orator.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal motives that included promoting his books as well as experimenting with his own game theories on the nation instead of genuinely advocating its economic stability.
He explained how those discussions to prevent bankruptcy became “not just a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake was not only the country's destiny but also those harsh austerity measures required in return for financial aid from international creditors.
Failed Options
Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged the EU into deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further wrote how his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
