In a recently unveiled memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, Tsipras appointed the unorthodox academic Varoufakis as his finance minister largely due to the latter's global profile and his “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had a personal agenda which involved promoting his publications and testing out his own economic models using the nation rather than genuinely advocating its financial survival.
Tsipras wrote how those discussions to prevent bankruptcy became “not only a method to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line was both Greece's destiny and the harsh austerity policies demanded in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, a move that plunged Europe into deeper existential crisis.
Although the referendum was won decisively by those against austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
