Within his freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines the chaotic era during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, Tsipras chose the maverick academic Varoufakis to be his finance minister mainly because of his global profile along with his “extremely attractive” abilities when it came to communicator.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had a personal motives which involved advancing his publications as well as experimenting with his own game theories using Greece rather than truly advocating the country's economic stability.
Tsipras noted that the talks to prevent bankruptcy became “not just a way of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of his theories.”
Critical Negotiations
During volatile negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny but also those severe cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
That summer, those harsh bailout terms were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, the prime minister had little option but to ignore the result then negotiate a bailout package with creditors which proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself “unfit for an agreement demanding intricate and delicate handling.”
He also wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
