In a recently unveiled memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected that maverick academic Varoufakis as the finance minister mainly due to his international reputation along with his highly compelling skills as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief had a personal agenda that involved promoting Varoufakis's publications and experimenting with his own theories on the nation instead of truly fighting for its financial survival.
Tsipras noted how those negotiations to avoid insolvency were “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of his theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only Greece's destiny and those severe austerity policies required in return for financial aid by international creditors.
Failed Options
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, a move that plunged Europe into a further existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This retelling of history has provoked anger along with shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
