Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on that chaotic era during Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras chose the unorthodox economist Varoufakis as his treasury head largely because of his international reputation along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal agenda which included advancing his publications and experimenting with his game theories using the nation rather than truly advocating its financial survival.
He wrote how the negotiations to prevent insolvency were “not just a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid tense discussions, Greece found itself perilously close to leaving the eurozone.
On the line was both the country's destiny and the punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a public vote, an action which threw Europe into further existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also claimed that his confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
