Within his freshly published memoir, called Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the turbulent period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he selected the maverick academic Varoufakis to be the treasury head mainly because of his global profile along with his very persuasive skills as a speaker.
“In reality, he was, actually, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal agenda that involved advancing his publications and experimenting with his own game theories using the nation instead of genuinely fighting for its economic stability.
He explained how those negotiations to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
Critical Talks
During volatile discussions, the country came perilously close to exiting the single currency area.
At stake lay not only the country's destiny and the harsh austerity measures demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, a move that plunged the EU into deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also claimed how his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
