In a freshly published personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he selected that unorthodox academic Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal agenda that involved promoting his books and testing out his own game theories using Greece rather than truly fighting for the country's economic stability.
He explained that those talks to stave off insolvency were “not just a way of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake was both the country's future and the punishing austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, an action which threw Europe into deeper existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
He also wrote that his confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
