Within his freshly published memoir, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he chose that unorthodox academic Varoufakis to be his treasury head primarily because of the latter's worldwide fame and Varoufakis's highly compelling skills as a speaker.
“He was, in reality, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis possessed his own motives that included advancing his books and experimenting with his own game theories using the nation rather than genuinely advocating its economic stability.
Tsipras wrote that those discussions to stave off bankruptcy became “not only a method to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake was both Greece's future and those severe cutbacks required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the harsh bailout terms were put to a popular referendum, a move which threw the EU into further crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result then agree to a rescue deal from creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, the leader knew it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally had proved himself “unfit for a deal demanding complex and delicate management.”
He further wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with shock among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
