Within his newly released memoir, called Ithaki, the former premier Alexis Tsipras does not hold back as he examines that turbulent era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected the unorthodox economist Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal motives that included promoting Varoufakis's publications and experimenting with his game theories using Greece instead of truly advocating its financial survival.
He wrote how the talks to prevent bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During tense negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line was not only Greece's future and those severe austerity policies demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the punitive conditions were put to a public vote, a move that threw Europe into a deeper crisis of identity.
Although the vote was won decisively by voters against the cuts, Tsipras had little option to ignore the result then agree to a bailout package with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He further claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The retelling of history has been met with fury along with shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
