In a newly released memoir, named Ithaki, the former leader Alexis Tsipras does not hold back while he examines that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, Tsipras appointed that unorthodox academic Varoufakis as the finance minister largely because of the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“He was, actually, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had his own motives that involved promoting his publications as well as experimenting with his own theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras explained how the negotiations to avoid bankruptcy were “not only a method to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line was not only the country's future and the punishing austerity measures demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras also claimed that his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, whereas the former minister has maintained a deafening silence on the matter.
