Within his freshly published personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches as he reflects on the chaotic period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, he chose that unorthodox economist Varoufakis as his finance minister mainly due to his worldwide fame along with Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief had a personal agenda that included advancing his books and experimenting with his game theories using Greece rather than genuinely advocating the country's economic stability.
Tsipras noted how the discussions to stave off insolvency were “not just a method of achieving improved terms for the country. They became a test, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay both Greece's future and those punishing austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, an action which threw Europe into further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and issuing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes how his former ally demonstrated himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed that his aggressive approach left him more and more alone among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet on the matter.
