In a freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he chose the maverick economist Varoufakis as the treasury head primarily due to his international reputation along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis possessed his own motives that included promoting Varoufakis's books as well as testing out his game theories using Greece instead of truly fighting for its financial survival.
Tsipras noted that the discussions to avoid insolvency became “not just a method of achieving a better deal for Greece. They were a test, an historic chance to prove the truth of his economic theories.”
Critical Talks
During volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake was not only the country's future but also the harsh austerity measures required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a public vote, an action that plunged Europe into deeper crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result and negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
This retelling of events has provoked anger and shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
