In a recently unveiled memoir, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, Tsipras chose that unorthodox economist Varoufakis to be his treasury head primarily due to the latter's global profile and his very persuasive skills when it came to communicator.
“In reality, he was, actually, more of a star rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed a personal agenda that included advancing his publications as well as experimenting with his game theories on the nation rather than truly advocating the country's financial survival.
He wrote that the talks to prevent bankruptcy became “not only a way of achieving a better deal for the country. They became a test, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line was both the country's destiny and those severe austerity measures required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were put to a public vote, a move that threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option but to ignore the result and agree to a bailout package with creditors which turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
He further wrote how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
