In a freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he appointed that maverick economist Varoufakis as his treasury head mainly because of the latter's worldwide fame and his very persuasive skills as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader suggests how his finance chief had a personal agenda which involved advancing his publications and testing out his game theories on Greece instead of genuinely advocating its economic stability.
He explained how those negotiations to stave off insolvency became “not just a method of achieving a better deal for the country. They were a test, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also those harsh austerity measures required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a further crisis of identity.
Even though the vote was won resoundingly by those against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras also wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hardliners who were advocating Grexit.
The retelling of history has provoked anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
