Within his freshly published memoir, named Ithaki, the former premier Alexis Tsipras does not hold back as he revisits the chaotic era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, Tsipras appointed the maverick academic Varoufakis as his treasury head largely due to the latter's global profile and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed a personal motives which included advancing his books as well as testing out his own game theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted how those discussions to avoid insolvency became “not only a method of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only Greece's destiny and those severe austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts 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 would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, a move which plunged the EU into a further existential crisis.
Although the vote was won decisively by those against austerity, Tsipras was forced to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself “unfit for a deal that required intricate and delicate handling.”
He also claimed that his aggressive style made him more and more alone among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
