In a freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he examines the chaotic era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose the maverick academic Varoufakis as the treasury head largely due to the latter's worldwide fame along with his “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had his own agenda that involved advancing his publications as well as testing out his own economic models using the nation rather than truly advocating its financial survival.
Tsipras noted that the negotiations to prevent bankruptcy were “not only a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
At stake was both the country's destiny and those punishing austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action which threw Europe into a deeper existential crisis.
Although the referendum was carried resoundingly by voters against the cuts, the prime minister was forced but to reject its outcome and agree to a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
He further wrote how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
