Within his newly released personal account, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he revisits that chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the maverick economist Varoufakis as his finance minister mainly due to his international reputation and his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal agenda which involved promoting Varoufakis's books as well as testing out his game theories using Greece instead of truly advocating its financial survival.
He noted that those negotiations to stave off bankruptcy were “not only a way to secure a better deal for Greece. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile negotiations, Greece found itself perilously close to exiting the eurozone.
On the line lay not only Greece's future but also the harsh austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive bailout terms were subjected to a public vote, a move that threw the EU into further existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister had little option to ignore the result and agree to a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
He further claimed how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
