Within his freshly published memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, he chose that unorthodox academic Varoufakis as his finance minister mainly due to his international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more like a star and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief possessed a personal agenda which included promoting Varoufakis's books as well as testing out his game theories on the nation instead of truly advocating its financial survival.
Tsipras noted how the discussions to prevent insolvency were “not just a way to secure improved terms for the country. They were a test, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay not only the country's future but also those harsh austerity policies demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were subjected to a public vote, an action which plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, the leader knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
