In a recently unveiled personal account, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, he appointed that maverick academic Varoufakis to be the treasury head mainly because of his global profile along with his “extremely attractive” skills when it came to public orator.
“He was, actually, more like a star and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own agenda which included promoting Varoufakis's books as well as testing out his own game theories using the nation rather than truly advocating its economic stability.
Tsipras wrote how the discussions to avoid insolvency became “not just a method of achieving a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake was both Greece's future but also those severe austerity policies demanded in return for bailout funds by international creditors.
Failed Options
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were subjected to a public vote, an action that plunged the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal with creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
