Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's recollections, he chose that maverick economist Varoufakis to be the finance minister mainly because of his international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed his own agenda which involved advancing Varoufakis's books and experimenting with his own game theories using the nation rather than genuinely fighting for the country's financial survival.
He explained that those discussions to stave off insolvency were “not only a method of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
During tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line was both the country's future but also those severe cutbacks required in return for bailout funds by international creditors.
Failed Options
Attempts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were put to a public vote, a move that threw the EU into a further existential crisis.
Although the referendum was won decisively by voters against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
He also wrote that his aggressive style made him more and more alone among peers, put Greece at risk, and helped hawks who were advocating Grexit.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
