In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, he appointed that maverick economist Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how 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 fighting for its economic stability.
He noted that the discussions to stave off bankruptcy were “not just a method to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay both the country's destiny and those punishing austerity measures demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh bailout terms were put to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by voters against the cuts, the prime minister had little option but to ignore the result and agree to a rescue deal from creditors that turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal that required complex and sensitive handling.”
He also wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The account of events has provoked anger and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
