Within his newly released memoir, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits that turbulent period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras chose the unorthodox economist Varoufakis as his finance minister largely due to his international reputation along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed a personal motives that included promoting Varoufakis's books and experimenting with his own economic models on the nation rather than genuinely fighting for the country's financial survival.
He explained how those discussions to prevent bankruptcy were “not just a method of achieving a better deal for Greece. They became a test, an historic chance to prove the validity of his theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny and those harsh cutbacks required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action which threw the EU into a deeper crisis of identity.
Although the referendum was won decisively by voters against austerity, Tsipras had little option to reject its outcome then agree to a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
He further wrote that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The account of events has provoked fury and shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
