Within his recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits the chaotic era of Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, he appointed that maverick academic Varoufakis to be the finance minister primarily because of his global profile along with his highly compelling skills as a speaker.
“He was, in reality, more like a star rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had his own agenda which involved promoting his books and testing out his own theories on the nation instead of truly advocating its financial survival.
Tsipras explained that those discussions to prevent bankruptcy became “not only a method to secure improved terms for Greece. They became a test, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
During tense discussions, Greece came perilously close to exiting the single currency area.
On the line lay both Greece's destiny but also those harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced to ignore the result then agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of history has been met with anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
