Within his freshly published personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches while he examines that chaotic era of Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, he appointed that unorthodox academic Varoufakis to be the treasury head primarily due to his international reputation along with his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges how his finance chief had his own motives which involved promoting his books as well as testing out his own game theories on the nation rather than truly fighting for its economic stability.
Tsipras explained that the negotiations to prevent insolvency were “not only a method of achieving improved terms for Greece. They became a test, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, the country came dangerously close to exiting the eurozone.
At stake was not only Greece's future but also the harsh cutbacks required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move that threw the EU into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while helped hawks that were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
