Within his freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines the chaotic period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, he appointed that unorthodox academic Varoufakis as the finance minister primarily because of his international reputation along with his very persuasive skills as a speaker.
“He was, truthfully, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had a personal agenda that involved advancing his publications as well as testing out his own game theories using Greece rather than truly fighting for the country's economic stability.
He wrote that those discussions to prevent insolvency were “not just a method of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake was not only the country's future but also those punishing cutbacks demanded in return for rescue loans by international creditors.
Failed Options
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move that threw the EU into a further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal with creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate handling.”
He further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
