In a freshly published personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the chaotic era of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, he appointed the unorthodox academic Varoufakis to be his finance minister largely due to his international reputation along with Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more like a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis had a personal motives which included advancing his publications and experimenting with his game theories using the nation rather than genuinely advocating its economic stability.
Tsipras noted how the negotiations to avoid bankruptcy became “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his theories.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line was not only Greece's destiny and the severe cutbacks required in return for financial aid from foreign lenders.
Failed Options
Attempts to find financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package with foreign lenders which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote that his aggressive approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
