Within his recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, he chose the unorthodox academic Varoufakis as the finance minister primarily due to his worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own agenda which involved promoting his publications and testing out his game theories on the nation rather than genuinely advocating the country's financial survival.
He noted how those discussions to stave off bankruptcy became “not only a way to secure improved terms for the country. They were an experiment, an historic opportunity to prove the truth of his theories.”
Critical Negotiations
During tense negotiations, the country found itself dangerously close to leaving the eurozone.
At stake lay not only Greece's destiny and those severe austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a public vote, an action which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was game over questioning him: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed that his aggressive style left him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with anger and shock among certain groups, while the former minister has kept a deafening silence on the matter.
