Within his freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that unorthodox academic Varoufakis as the finance minister primarily due to the latter's global profile along with his very persuasive skills when it came to speaker.
“He was, truthfully, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief possessed his own agenda which included promoting Varoufakis's books and experimenting with his own economic models on the nation rather than genuinely advocating the country's financial survival.
He noted how the discussions to stave off insolvency were “not just a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake was both Greece's future and the harsh austerity policies required in return for bailout funds from international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, a move that threw the EU into a deeper existential crisis.
Even though the referendum was carried decisively 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 proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
Tsipras further claimed how his confrontational style left him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
