Within his freshly published memoir, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras chose that maverick economist Varoufakis as the finance minister largely because of the latter's global profile along with his highly compelling skills when it came to public orator.
“In reality, he was, actually, more like a star and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis possessed his own agenda which involved advancing his books and experimenting with his own game theories on the nation instead of truly advocating the country's financial survival.
He noted that those discussions to avoid bankruptcy were “not just a method to secure a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, Greece found itself perilously close to exiting the single currency area.
At stake was not only Greece's destiny but also those severe cutbacks required in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into further crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He further wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
