Within his freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on the turbulent period during Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, Tsipras selected that maverick academic Varoufakis as his finance minister primarily because of his global profile along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed his own agenda which involved promoting Varoufakis's books and experimenting with his own theories using Greece instead of truly advocating its financial survival.
He explained how the discussions to stave off bankruptcy became “not just a way of achieving a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country came dangerously on the brink of exiting the single currency area.
On the line was both the country's destiny and the harsh cutbacks demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, an action that threw Europe into further crisis of identity.
Although the vote was carried decisively by those against austerity, Tsipras was forced but to ignore the result and agree to a rescue deal from creditors which turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally had proved himself to be “unfit for a deal that required intricate and sensitive handling.”
He also claimed that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
