Within his freshly published memoir, named Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits that turbulent era of Greece's debt drama.
A Controversial Choice
In Tsipras's version, Tsipras selected the unorthodox economist Varoufakis to be the finance minister mainly because of the latter's international reputation and his very persuasive skills as a speaker.
“In reality, he was, actually, more of a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests how his finance chief had a personal motives which included promoting Varoufakis's books as well as experimenting with his own game theories using Greece rather than truly advocating the country's financial survival.
Tsipras wrote how the talks to avoid insolvency were “not just a way of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
On the line lay not only Greece's future and those harsh cutbacks required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move that threw the EU into deeper existential crisis.
Even though the referendum was won decisively by those against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis had proved himself “unfit for a deal demanding complex and delicate management.”
He also claimed how his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The account of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
