Within his recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines that chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose the unorthodox academic Varoufakis as the treasury head primarily due to his international reputation and Varoufakis's very persuasive abilities as a communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal agenda which included advancing his books and experimenting with his own game theories using the nation rather than truly advocating its economic stability.
Tsipras explained how the talks to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line was both Greece's destiny and the punishing austerity policies required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating conditions were put to a public vote, a move which plunged Europe into a further crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
He further claimed how his aggressive approach left him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked anger and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
