In a newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that turbulent period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis as the treasury head primarily because of his worldwide fame along with his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed his own motives which involved advancing his books as well as experimenting with his game theories on Greece instead of genuinely fighting for the country's economic stability.
He noted that those talks to prevent insolvency became “not only a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake was both the country's future and those severe austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis had proved himself “unfit for a deal that required complex and sensitive management.”
Tsipras further claimed that his confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
The retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
