Within his freshly published personal account, titled Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, he selected the maverick economist Varoufakis to be the finance minister largely because of his worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more of a star and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis possessed his own motives which included advancing Varoufakis's books as well as testing out his own game theories using Greece rather than truly advocating the country's economic stability.
Tsipras explained that the discussions to prevent insolvency became “not only a method to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of his theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the single currency area.
On the line was both the country's future and those punishing austerity measures required in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action that plunged the EU into a further existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal with creditors which turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He also claimed how his aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
