Within his freshly published personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
In Tsipras's version, he chose that maverick economist Varoufakis as his treasury head largely due to the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had his own agenda which included promoting his publications and testing out his game theories on the nation rather than genuinely advocating its financial survival.
He wrote that those discussions to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During tense negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay both Greece's future and the punishing cutbacks demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive conditions were put to a public vote, an action which threw the EU into deeper existential crisis.
Even though the referendum was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result then negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and distributing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
He also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The account of history has been met with fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
