Within his freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines that chaotic era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras chose the maverick academic Varoufakis as his treasury head mainly due to the latter's global profile along with Varoufakis's highly compelling abilities as a public orator.
“He was, actually, more of a star and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed his own motives that involved advancing his publications and experimenting with his game theories using the nation instead of truly advocating its economic stability.
He explained that those negotiations to stave off insolvency were “not only a method to secure improved terms for the country. They became an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only the country's future but also the harsh cutbacks required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Even though the referendum was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome then agree to a bailout package from creditors which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing coupons to retirees, the leader said he realised it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
The account of history has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
