In a freshly published memoir, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines that chaotic era during Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, Tsipras chose the unorthodox economist Varoufakis to be his treasury head primarily due to the latter's international reputation along with his “extremely attractive” skills when it came to public orator.
“He was, actually, more of a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal motives which included advancing Varoufakis's books and testing out his theories on the nation instead of truly fighting for the country's financial survival.
Tsipras explained that the talks to stave off bankruptcy were “not only a method to secure a better deal for Greece. They became a test, a monumental chance to prove the validity of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
At stake was not only the country's future and the severe austerity policies demanded in exchange for financial aid from foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, an action that plunged Europe into further existential crisis.
Even though the referendum was won decisively by those against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras also claimed how his aggressive approach left him increasingly isolated among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
