Within his freshly published memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, Tsipras appointed that maverick economist Varoufakis as his finance minister largely because of the latter's worldwide fame along with his highly compelling skills when it came to public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal agenda which involved advancing his publications and testing out his economic models using Greece rather than truly fighting for the country's economic stability.
Tsipras explained that those negotiations to prevent bankruptcy were “not only a method to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
During tense negotiations, the country came perilously close to exiting the eurozone.
At stake lay not only the country's destiny and the harsh austerity policies demanded in return for bailout funds from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras had little option to ignore the result then agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to retirees, the leader knew it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also claimed that his confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
