Within his recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that chaotic period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, Tsipras appointed the maverick academic Varoufakis as his finance minister primarily due to his global profile along with his “extremely attractive” abilities as a communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed his own motives which involved promoting his publications and experimenting with his game theories using the nation rather than genuinely advocating its financial survival.
Tsipras noted that those discussions to prevent bankruptcy were “not only a way to secure a better deal for the country. They became a test, an historic chance to prove the validity of his theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only the country's future but also the punishing austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Even though the vote was carried resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
He further claimed how his aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has provoked anger and shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
