In a recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he revisits the chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, he chose that unorthodox academic Varoufakis as the treasury head primarily due to his international reputation along with his very persuasive abilities when it came to communicator.
“He was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had his own agenda that involved promoting Varoufakis's books as well as experimenting with his own economic models on the nation rather than genuinely fighting for the country's economic stability.
He explained how those talks to prevent insolvency became “not only a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Talks
During tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line was both Greece's future and the harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action that threw Europe into deeper existential crisis.
Even though the referendum was carried decisively by those against austerity, the prime minister had little option but to reject its outcome and agree to a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts how his former ally demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
He also wrote that his aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The retelling of history has provoked fury along with shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
