Within his newly released personal account, titled Ithaki, the former premier Alexis Tsipras spares no criticism as he reflects on that chaotic era of Greece's debt drama.
A Controversial Choice
In the ex-PM's version, he selected that unorthodox economist Varoufakis as his finance minister primarily because of his international reputation and Varoufakis's very persuasive skills as a speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed his own agenda which involved advancing his books as well as experimenting with his game theories using the nation instead of genuinely fighting for the country's financial survival.
He wrote that those discussions to stave off bankruptcy became “not just a way to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and the harsh cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action that plunged Europe into deeper existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes that his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
He further wrote that his confrontational approach left him more and more alone with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
