Within his recently unveiled memoir, called Ithaki, the former premier Alexis Tsipras does not hold back as he revisits the chaotic period during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras selected the unorthodox economist Varoufakis to be the treasury head mainly because of his global profile and his “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had a personal motives that involved promoting Varoufakis's books as well as testing out his theories using the nation rather than genuinely advocating its financial survival.
He wrote how the discussions to prevent insolvency became “not just a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself dangerously close to leaving the eurozone.
On the line was both Greece's future but also those punishing cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action that plunged the EU into further crisis of identity.
Although the referendum was won decisively by those against the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and issuing coupons to pensioners, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He also wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
The account of events has provoked fury and shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
