Within his recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he appointed that maverick economist Varoufakis as his finance minister largely because of his international reputation along with Varoufakis's very persuasive abilities when it came to communicator.
“He was, in reality, more like a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief possessed his own agenda that included advancing Varoufakis's books as well as experimenting with his own game theories using Greece instead of genuinely advocating its financial survival.
He explained that the discussions to prevent insolvency were “not just a method to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously close to exiting the eurozone.
On the line was not only the country's destiny and those severe austerity measures demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move which threw Europe into deeper existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option but to ignore the result and agree to a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
