In a newly released personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the turbulent era of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras chose that unorthodox economist Varoufakis to be the finance minister mainly because of his international reputation along with his highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had a personal motives that involved promoting Varoufakis's books as well as testing out his theories on the nation rather than truly advocating the country's financial survival.
He wrote that those talks to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake was both the country's future but also those harsh austerity measures demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, Tsipras had little option but to ignore the result and agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and distributing coupons to retirees, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further wrote how his aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
