In a newly released memoir, named Ithaki, the former leader Alexis Tsipras does not hold back while he revisits that chaotic era during Greece's financial crisis.
A Controversial Choice
In Tsipras's account, Tsipras chose the unorthodox economist Varoufakis as the finance minister primarily due to the latter's global profile along with his “extremely attractive” abilities when it came to public orator.
“He was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief had his own motives which involved promoting his books as well as experimenting with his theories on Greece instead of truly advocating its economic stability.
Tsipras explained how the talks to prevent bankruptcy were “not just a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself perilously close to exiting the eurozone.
At stake was both the country's destiny but also the harsh cutbacks required in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move which plunged the EU into a further existential crisis.
Even though the referendum was won resoundingly by those against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
