Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, Tsipras selected the maverick economist Varoufakis as his treasury head largely because of his global profile along with Varoufakis's very persuasive abilities as a public orator.
“He was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had his own motives that involved promoting Varoufakis's books and experimenting with his economic models using the nation instead of genuinely fighting for its financial survival.
He wrote that the discussions to avoid bankruptcy were “not only a way to secure improved terms for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece found itself dangerously close to exiting the single currency area.
On the line was both Greece's destiny but also those punishing austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action that threw Europe into deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
He further wrote how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
The account of events has been met with fury along with stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet on the matter.
