In a recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he examines that chaotic era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras chose the unorthodox academic Varoufakis to be his finance minister primarily because of the latter's worldwide fame and Varoufakis's very persuasive skills as a speaker.
“He was, truthfully, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras claims that his finance chief possessed a personal agenda which included advancing Varoufakis's publications and testing out his own game theories using the nation instead of truly advocating its economic stability.
Tsipras explained that the discussions to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line was not only Greece's future and those severe austerity measures demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those excoriating bailout terms were subjected to a popular referendum, a move which threw the EU into a further existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also claimed that Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of events has provoked anger along with shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
