In a freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, he selected the unorthodox economist Varoufakis as his finance minister largely because of his international reputation along with Varoufakis's very persuasive abilities as a speaker.
“He was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis possessed his own motives that involved promoting Varoufakis's books and experimenting with his theories using Greece rather than genuinely advocating its financial survival.
He wrote that those talks to prevent insolvency were “not just a way to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was not only the country's destiny and the punishing austerity policies demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Even though the vote was won decisively by voters against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that his former ally demonstrated himself “unfit for a deal demanding complex and delicate handling.”
Tsipras further claimed how his aggressive approach left him more and more alone among peers, endangered the country, while helped hawks that were advocating Grexit.
This retelling of events has provoked anger and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
