Within his recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, he selected that maverick economist Varoufakis as his finance minister largely due to the latter's global profile along with Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a star and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that his finance chief possessed a personal agenda that involved advancing Varoufakis's publications and testing out his game theories on the nation rather than genuinely fighting for its economic stability.
Tsipras wrote how those discussions to stave off bankruptcy became “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously close to exiting the single currency area.
On the line lay not only Greece's destiny and those harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, a move that plunged the EU into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option to ignore the result then agree to a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how his former ally had proved himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras also claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
