Within his freshly published personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on that turbulent era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected that unorthodox academic Varoufakis to be the treasury head largely because of his international reputation and his highly compelling abilities when it came to speaker.
“He was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief had his own motives which involved promoting his publications as well as experimenting with his own game theories on Greece rather than truly advocating its financial survival.
Tsipras noted how the discussions to prevent insolvency were “not only a way to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his theories.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake was both Greece's future and those severe austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action that threw the EU into a further existential crisis.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
He further wrote that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet on the matter.
