Within his freshly published personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the chaotic period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, he appointed the unorthodox economist Varoufakis to be his finance minister primarily because of his global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed his own agenda that involved promoting his books as well as experimenting with his own game theories using the nation rather than genuinely fighting for the country's financial survival.
Tsipras noted how those negotiations to prevent insolvency were “not just a method of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only Greece's future but also those severe austerity policies demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, a move that threw the EU into deeper existential crisis.
Although the referendum was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
The account of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
