Within his freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras appointed that maverick economist Varoufakis as the finance minister mainly due to his international reputation and Varoufakis's very persuasive skills when it came to public orator.
“He was, actually, more like a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis possessed his own motives which included advancing Varoufakis's publications and testing out his game theories on Greece rather than truly advocating the country's economic stability.
Tsipras explained how the discussions to avoid bankruptcy became “not only a way to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was not only Greece's future and those severe austerity policies required in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the harsh conditions were put to a public vote, a move which threw the EU into further existential crisis.
Even though the vote was carried resoundingly by those against austerity, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The account of events has been met with fury along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
