Within his freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he examines that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he selected the maverick economist Varoufakis as his finance minister mainly because of his international reputation along with Varoufakis's highly compelling skills when it came to speaker.
“He was, truthfully, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief possessed a personal agenda which involved promoting Varoufakis's books and experimenting with his own theories on the nation rather than truly advocating its economic stability.
He wrote how the negotiations to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became a test, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay both the country's destiny and those severe cutbacks required in exchange for bailout funds from international creditors.
Failed Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move that threw Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras further claimed how his aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
This account of events has provoked fury along with shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
