Within his freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines that turbulent period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis as the treasury head mainly because of his global profile and his very persuasive skills when it came to public orator.
“He was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had his own motives which involved advancing Varoufakis's books and experimenting with his game theories using Greece rather than genuinely fighting for the country's financial survival.
He explained that those negotiations to avoid insolvency became “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his theories.”
Critical Talks
During tense discussions, Greece came perilously close to exiting the eurozone.
On the line was not only Greece's future but also those severe austerity measures required in exchange for financial aid from foreign lenders.
Failed Options
Efforts to secure financing from other sources, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were put to a public vote, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote that his aggressive style left him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit.
This account of events has provoked anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
