Within his freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the turbulent era during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, he appointed that unorthodox academic Varoufakis to be the treasury head largely because of the latter's international reputation along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had his own motives that included promoting Varoufakis's publications and testing out his own game theories using Greece rather than genuinely fighting for the country's economic stability.
Tsipras noted how those talks to prevent bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake lay both the country's destiny and the harsh austerity measures demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action which plunged the EU into a further existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate management.”
He also claimed how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
