In a newly released memoir, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis as his finance minister mainly due to the latter's global profile along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own motives that involved promoting his publications and testing out his theories using Greece instead of genuinely advocating its economic stability.
Tsipras wrote that the discussions to stave off bankruptcy became “not only a method of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake lay both Greece's future and the harsh austerity measures demanded in return for financial aid from foreign lenders.
Failed Options
Attempts to find funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, a move that plunged the EU into a further crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed how his confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with anger along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
