Within his freshly published personal account, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits the chaotic era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis as the treasury head mainly due to the latter's worldwide fame along with his very persuasive abilities when it came to communicator.
“He was, actually, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had a personal agenda that included advancing Varoufakis's publications and experimenting with his game theories on Greece instead of truly advocating the country's financial survival.
He noted how the discussions to stave off insolvency were “not only a method to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, Greece came perilously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny and the harsh austerity policies demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image 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 Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive handling.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
The retelling of events has provoked anger and shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
