Within his freshly published personal account, named Ithaki, the ex- leader Tsipras pulls no punches while he revisits the turbulent period during Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed the unorthodox economist Varoufakis as his finance minister mainly due to the latter's worldwide fame and his very persuasive skills as a communicator.
“He was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief possessed a personal agenda that involved promoting Varoufakis's publications and experimenting with his own game theories using the nation rather than genuinely advocating the country's economic stability.
He wrote that the discussions to stave off insolvency became “not just a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay not only the country's future but also those punishing austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action that threw the EU into deeper crisis of identity.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author asserts how his former ally had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras further claimed that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
