Within his newly released personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines the chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he chose the unorthodox academic Varoufakis as the finance minister mainly due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to speaker.
“He was, in reality, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis had a personal motives which involved advancing his publications and experimenting with his own game theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras noted that those talks to prevent insolvency were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, Greece came dangerously on the brink of leaving the single currency area.
On the line lay both Greece's destiny but also the punishing cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action which plunged Europe into further existential crisis.
Although the vote was carried resoundingly by those against the cuts, the prime minister was forced to ignore the result then agree to a rescue deal with creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
He also claimed how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating Grexit.
The account of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
