Within his freshly published autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he examines that chaotic period of Greece's financial crisis.
A Controversial Choice
In Tsipras's account, he chose the maverick economist Varoufakis to be the finance minister largely because of the latter's global profile and his “extremely attractive” skills when it came to speaker.
“He was, actually, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own motives which included advancing Varoufakis's publications and experimenting with his game theories using Greece rather than genuinely fighting for the country's economic stability.
He wrote how those talks to avoid insolvency were “not only a method of achieving improved terms for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster discussions, the country came dangerously on the brink of leaving the single currency area.
On the line was both Greece's destiny and those harsh cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move which plunged the EU into deeper crisis of identity.
Although the vote was carried decisively by those against austerity, the prime minister was forced to ignore the result and negotiate a bailout package from creditors which turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive management.”
He also wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
This account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
