Within his newly released personal account, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he examines that turbulent era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that unorthodox academic Varoufakis as the treasury head primarily because of the latter's international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“He was, in reality, more like a celebrity and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis had his own agenda that included advancing his books as well as testing out his own game theories on the nation instead of truly fighting for the country's economic stability.
He explained how the negotiations to prevent bankruptcy were “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only the country's future but also those severe cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action which threw the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras had little option to ignore the result then negotiate a bailout package with foreign lenders that proved to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
He also wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
