Within his freshly published personal account, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines that chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras chose that unorthodox economist Varoufakis to be the finance minister primarily due to his global profile along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more like a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal agenda which included promoting Varoufakis's books as well as testing out his theories using the nation rather than genuinely advocating its financial survival.
He wrote that those discussions to prevent bankruptcy were “not only a way to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay not only the country's future but also those harsh austerity policies demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating conditions were put to a popular referendum, a move that threw the EU into further existential crisis.
Although the vote was won resoundingly by those against the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis had proved himself “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed that his aggressive style made him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
The account of history has been met with anger and shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
