Within his recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras does not hold back while he examines that chaotic period of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras selected that maverick economist Varoufakis as his treasury head mainly because of his global profile and his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges how his finance chief possessed his own motives which involved advancing his publications and experimenting with his own game theories using the nation rather than truly advocating the country's economic stability.
He wrote how those negotiations to stave off insolvency became “not only a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake was both Greece's destiny but also those severe austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh conditions were subjected to a public vote, a move which threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, the prime minister had little option to ignore the result and agree to a bailout package from foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed that his confrontational approach made him more and more alone among peers, endangered the country, while helped hardliners that were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
