Within his recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras selected that maverick academic Varoufakis to be his treasury head mainly because of his worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own motives that involved promoting his books and experimenting with his own economic models on the nation instead of genuinely advocating the country's financial survival.
He wrote how those discussions to stave off insolvency became “not only a method of achieving a better deal for the country. They became an experiment, an historic opportunity to prove the truth of his theories.”
Critical Negotiations
During tense negotiations, the country found itself perilously close to leaving the single currency area.
At stake lay both Greece's future and the severe austerity policies required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, an action which plunged Europe into deeper existential crisis.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal from creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
He further claimed how his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
