In a newly released personal account, called Ithaki, the former premier Alexis Tsipras does not hold back as he revisits the chaotic period of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, he selected that maverick academic Varoufakis to be his finance minister largely due to the latter's worldwide fame along with his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal agenda that involved advancing Varoufakis's books as well as testing out his own game theories using Greece rather than truly advocating the country's financial survival.
Tsipras explained that the discussions to prevent insolvency were “not only a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny and the severe cutbacks demanded in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which threw Europe into further existential crisis.
Even though the vote was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from creditors that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
He also wrote how his confrontational approach left him more and more alone among peers, endangered the country, while helped hawks that were advocating Grexit.
The retelling of events has been met with fury and shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
