In a newly released memoir, named Ithaki, the former leader Alexis Tsipras does not hold back as he revisits the chaotic era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis as the finance minister largely due to the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his economic models using the nation instead of truly fighting for its financial survival.
Tsipras wrote how those negotiations to avoid bankruptcy were “not only a way of achieving improved terms for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay both the country's future but also the severe austerity measures required in exchange for financial aid by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
