Within his recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, Tsipras selected the maverick economist Varoufakis as his treasury head mainly because of his international reputation along with his “extremely attractive” skills as a communicator.
“He was, truthfully, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed a personal motives which involved promoting his books as well as testing out his game theories using Greece rather than genuinely fighting for the country's financial survival.
He noted how those talks to stave off bankruptcy became “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny but also those punishing austerity policies demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those harsh conditions were put to a popular referendum, an action that threw Europe into deeper existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result and agree to a rescue deal from creditors which proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras further claimed that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
This account of history has provoked anger along with shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
