In a recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the chaotic era of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, Tsipras chose the maverick economist Varoufakis to be the finance minister mainly due to his worldwide fame along with his highly compelling skills as a public orator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed a personal motives that included promoting his publications as well as experimenting with his theories on Greece rather than truly advocating its financial survival.
Tsipras noted how the negotiations to stave off bankruptcy became “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was both the country's future but also those punishing austerity measures demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister had little option to reject its outcome then agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The retelling of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
