In a freshly published memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back while he examines the chaotic era of Greece's debt drama.
An Unconventional Choice
In Tsipras's account, Tsipras chose the unorthodox academic Varoufakis as his treasury head largely because of the latter's global profile along with his very persuasive skills as a speaker.
“In reality, he was, actually, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda which involved advancing his books as well as testing out his game theories on the nation instead of truly advocating its economic stability.
He noted how the talks to stave off insolvency became “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's future and the punishing austerity measures required in return for financial aid by international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move which threw Europe into further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author concludes how his former ally had proved himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
