In a freshly published personal account, titled Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on that chaotic period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, he chose that maverick economist Varoufakis as his treasury head primarily due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis possessed a personal agenda that involved promoting Varoufakis's books as well as experimenting with his own game theories using Greece instead of genuinely advocating its financial survival.
He noted that those discussions to avoid insolvency were “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid tense discussions, the country came dangerously on the brink of leaving the single currency area.
On the line was not only Greece's future but also the harsh austerity policies required in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a public vote, a move that plunged Europe into a further existential crisis.
Although the referendum was carried resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras also claimed how his confrontational approach made him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
