Within his newly released memoir, called Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on the chaotic era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, Tsipras chose the maverick academic Varoufakis as the finance minister largely due to the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief had his own motives that included promoting Varoufakis's books as well as testing out his game theories using the nation instead of truly fighting for its financial survival.
Tsipras explained that those discussions to prevent bankruptcy became “not just a method to secure a better deal for the country. They were a test, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
At stake lay both Greece's destiny but also those punishing austerity measures demanded in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
He further wrote how his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
The retelling of events has been met with fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
