Within his newly released personal account, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, he appointed the maverick academic Varoufakis as his treasury head primarily due to his worldwide fame along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own agenda which included promoting his publications and testing out his own game theories on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to stave off insolvency became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also those punishing austerity policies required in exchange for rescue loans by international creditors.
Failed Options
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which threw Europe into deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency and issuing coupons to pensioners, Tsipras knew that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also claimed that his aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating Grexit.
The retelling of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
