In a newly released personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches as he examines that chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, Tsipras selected that unorthodox academic Varoufakis to be his finance minister largely because of his global profile along with his “extremely attractive” abilities when it came to public orator.
“He was, actually, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed a personal agenda which included advancing Varoufakis's publications as well as experimenting with his own game theories on Greece rather than truly advocating the country's economic stability.
He wrote how those talks to avoid bankruptcy became “not only a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
At stake was not only Greece's future but also those harsh austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were subjected to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be tougher.
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 drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This account of events has been met with anger and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
