Within his recently unveiled memoir, titled Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, Tsipras selected the unorthodox academic Varoufakis as his finance minister primarily due to the latter's international reputation and his “extremely attractive” skills as a public orator.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda which included advancing Varoufakis's books and testing out his own economic models on the nation rather than genuinely fighting for the country's financial survival.
He noted how the negotiations to prevent insolvency were “not only a method of achieving a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake lay not only the country's future but also those severe austerity policies demanded in exchange for bailout funds by international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a public vote, a move that threw Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was game over questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate management.”
He further wrote how his aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
