In a recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the turbulent era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's account, Tsipras selected that unorthodox academic Varoufakis to be his finance minister largely due to the latter's international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“He was, actually, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader suggests how his finance chief had his own agenda that included promoting his publications and experimenting with his own game theories on Greece instead of genuinely advocating its economic stability.
He noted that those talks to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Talks
Amid tense negotiations, the country found itself perilously close to leaving the single currency area.
At stake lay not only the country's destiny but also those severe austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a public vote, a move which threw Europe into deeper existential crisis.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option to reject its outcome and agree to a bailout package with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
