Within his newly released memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back while he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, Tsipras chose the unorthodox economist Varoufakis to be the finance minister largely because of the latter's worldwide fame along with his very persuasive skills as a communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis had his own motives which involved advancing Varoufakis's publications as well as experimenting with his economic models using the nation rather than genuinely advocating its financial survival.
Tsipras wrote that those discussions to avoid bankruptcy were “not just a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the validity of his ideas.”
Critical Talks
Amid tense discussions, the country came dangerously close to exiting the single currency area.
On the line was not only Greece's destiny and those punishing austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, those punitive bailout terms were subjected to a public vote, an action which threw Europe into a further crisis of identity.
Even though the vote was won resoundingly by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, the leader knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also wrote that his confrontational style left him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
The account of events has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
