Within his newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines that turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, he selected that unorthodox economist Varoufakis as his finance minister largely because of the latter's international reputation along with his “extremely attractive” abilities when it came to public orator.
“He was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis had his own agenda which involved advancing Varoufakis's publications and testing out his own game theories on the nation rather than truly fighting for its economic stability.
He noted how those discussions to avoid insolvency became “not just a method to secure a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay both the country's destiny and those harsh austerity policies required in exchange for financial aid by international creditors.
Failed Options
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, an action which plunged Europe into a further crisis of identity.
Even though the vote was won decisively by voters against austerity, the prime minister was forced to reject its outcome and agree to a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
He further claimed that his aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
