Within his recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he appointed the unorthodox economist Varoufakis as the finance minister primarily due to the latter's international reputation along with his very persuasive skills as a public orator.
“In reality, he was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own motives which involved advancing Varoufakis's books as well as experimenting with his game theories using the nation rather than genuinely advocating the country's economic stability.
Tsipras wrote how the talks to avoid insolvency became “not just a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously close to leaving the eurozone.
At stake was not only Greece's future but also those severe austerity policies required in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a popular referendum, an action which threw the EU into a deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal with creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
He also wrote how his confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
