Within his freshly published personal account, named Ithaki, the former premier Alexis Tsipras does not hold back as he examines the chaotic era during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras appointed the maverick academic Varoufakis as the finance minister primarily due to the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own agenda that involved advancing his publications as well as experimenting with his theories using the nation instead of truly fighting for its economic stability.
Tsipras noted how those negotiations to prevent bankruptcy were “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, the country found itself dangerously close to leaving the eurozone.
On the line was not only the country's future and the punishing austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, a move which plunged the EU into deeper existential crisis.
Although the vote was won decisively by voters against austerity, Tsipras had little option but to reject its outcome then negotiate a bailout package from creditors which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also claimed how his confrontational style made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
