In a recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the chaotic period during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, he appointed that maverick economist Varoufakis as the treasury head largely due to the latter's global profile and his highly compelling abilities as a speaker.
“He was, truthfully, more like a personality and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own motives which included promoting his books as well as experimenting with his own game theories on the nation instead of truly fighting for its financial survival.
He noted that the talks to prevent insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Talks
During rollercoaster discussions, the country came perilously close to exiting the single currency area.
At stake was both the country's future and those punishing austerity measures required in return for bailout funds from foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive conditions were put to a popular referendum, a move that threw the EU into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome and agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
He also claimed that his confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.
The retelling of events has been met with fury along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
