In a freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, he chose the unorthodox academic Varoufakis to be the finance minister mainly because of his international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, in reality, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief possessed his own motives which involved advancing his publications as well as testing out his theories using Greece instead of truly advocating the country's economic stability.
He noted that those talks to prevent bankruptcy were “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During tense negotiations, Greece came dangerously close to exiting the eurozone.
At stake lay not only the country's destiny and the punishing cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, the prime minister was forced but to ignore the result and negotiate a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
Tsipras further claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The account of history has been met with anger and shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
