In a newly released personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected the unorthodox economist Varoufakis as the finance minister primarily because of the latter's global profile along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, in reality, more like a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras suggests how Varoufakis possessed his own agenda which involved advancing his publications and experimenting with his game theories on the nation rather than truly fighting for its financial survival.
He noted how the negotiations to prevent bankruptcy were “not only a way of achieving a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line was both Greece's destiny but also the harsh austerity measures demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, a move which threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
