Within his recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, Tsipras chose that unorthodox academic Varoufakis to be the treasury head mainly due to his international reputation along with his “extremely attractive” skills as a public orator.
“He was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal agenda which included advancing Varoufakis's publications as well as testing out his game theories using the nation instead of genuinely fighting for the country's economic stability.
Tsipras noted that those discussions to stave off bankruptcy became “not only a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid volatile discussions, the country came perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the punishing austerity policies required in exchange for rescue loans by international creditors.
Failed Options
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, an action that threw Europe into a deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then agree to a bailout package with creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
