In a recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected that unorthodox academic Varoufakis as his treasury head primarily due to the latter's international reputation along with his “extremely attractive” skills as a communicator.
“He was, truthfully, more of a star rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief possessed a personal motives that involved advancing Varoufakis's books as well as testing out his theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained that those negotiations to avoid insolvency became “not just a way of achieving a better deal for the country. They were a test, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny and those harsh austerity measures required in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, those punitive bailout terms were subjected to a public vote, a move which plunged the EU into a deeper existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive management.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
