Within his freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent era of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras chose the unorthodox academic Varoufakis as his treasury head mainly due to the latter's global profile and his “extremely attractive” abilities as a public orator.
“He was, truthfully, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief possessed a personal motives that included promoting Varoufakis's books and testing out his own game theories on Greece instead of truly advocating its economic stability.
Tsipras noted how those talks to prevent bankruptcy became “not only a method of achieving improved terms for the country. They became a test, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During volatile discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line was both Greece's future and those harsh austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged the EU into further crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister had little option to reject its outcome then agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
