Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent period of Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, he appointed that unorthodox academic Varoufakis as his treasury head mainly due to his global profile and his highly compelling abilities when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how his finance chief possessed a personal agenda that involved promoting his publications and testing out his own game theories on the nation instead of genuinely fighting for the country's economic stability.
Tsipras noted that the talks to avoid bankruptcy were “not only a way to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During tense discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay not only the country's destiny and the harsh austerity policies required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the punitive conditions were put to a popular referendum, a move which plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He further wrote how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
