In a freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, Tsipras appointed the maverick economist Varoufakis to be his finance minister mainly due to his worldwide fame along with his “extremely attractive” skills when it came to speaker.
“He was, in reality, more like a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader suggests how his finance chief possessed his own agenda which included advancing Varoufakis's books as well as testing out his economic models on Greece rather than truly advocating the country's financial survival.
Tsipras wrote how those discussions to stave off insolvency became “not only a method to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also those severe austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to retirees, the leader said he realised it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
