Within his freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on the turbulent period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, he selected that maverick academic Varoufakis as his finance minister largely due to his worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own agenda that included advancing his books as well as testing out his game theories using Greece rather than genuinely fighting for the country's economic stability.
Tsipras explained how those discussions to avoid insolvency became “not just a method to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future but also the harsh cutbacks demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, a move that plunged the EU into deeper existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced but to ignore the result and agree to a bailout package with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The retelling of history has been met with fury and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
