Within his newly released memoir, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on that turbulent era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras selected that unorthodox economist Varoufakis to be his finance minister mainly because of the latter's international reputation along with his “extremely attractive” abilities as a communicator.
“He was, actually, more like a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives which involved advancing Varoufakis's books and experimenting with his own economic models using Greece rather than genuinely fighting for its economic stability.
He noted how the talks to prevent insolvency became “not just a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Talks
During volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay both Greece's future but also those punishing cutbacks required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, a move that plunged Europe into a deeper crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
