Within his freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits that turbulent era of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras chose the maverick economist Varoufakis as his finance minister mainly because of the latter's global profile along with his very persuasive abilities as a speaker.
“He was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had his own motives which involved advancing Varoufakis's books and testing out his economic models using Greece instead of truly fighting for the country's economic stability.
Tsipras wrote that those discussions to stave off bankruptcy were “not just a method to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny but also those severe austerity policies demanded in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action which threw the EU into further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate management.”
He also wrote that his aggressive approach made him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
