Within his freshly published personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he chose that unorthodox economist Varoufakis to be his finance minister mainly due to his international reputation along with his “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras suggests that his finance chief possessed his own agenda that involved promoting Varoufakis's publications and experimenting with his game theories on Greece instead of truly fighting for the country's economic stability.
Tsipras explained how those negotiations to stave off insolvency were “not just a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
On the line lay both the country's destiny and the severe austerity measures demanded in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Even though the referendum was won decisively by voters against austerity, Tsipras was forced to ignore the result then agree to a bailout package from foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes how Varoufakis had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
