In a newly released autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the chaotic era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, Tsipras appointed the maverick academic Varoufakis to be the treasury head primarily due to his international reputation and his very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis had a personal motives that involved advancing Varoufakis's books as well as experimenting with his game theories on Greece instead of truly advocating its economic stability.
Tsipras explained that the talks to avoid insolvency were “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously close to leaving the single currency area.
On the line was both Greece's future but also the punishing cutbacks required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister outlined a contingency plan involving creating a secondary currency and distributing coupons to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for a deal that required complex and sensitive management.”
He also wrote how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
