Within his newly released personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected that maverick economist Varoufakis to be the finance minister mainly because of his international reputation along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed his own motives that involved promoting his publications as well as experimenting with his economic models using the nation instead of truly fighting for its financial survival.
He noted that those negotiations to prevent bankruptcy became “not just a way to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
During tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny but also those severe austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, an action which plunged Europe into further existential crisis.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister had little option but to ignore the result and agree to a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further claimed how his confrontational style left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, while the former minister has kept a deafening silence on the matter.
