In a newly released personal account, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, he chose the unorthodox academic Varoufakis as the treasury head largely due to his global profile along with his highly compelling abilities as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief had a personal agenda that involved promoting his publications and testing out his game theories using the nation rather than genuinely fighting for the country's financial survival.
He wrote how those negotiations to stave off bankruptcy became “not just a method of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
Amid volatile negotiations, the country found itself perilously close to leaving the eurozone.
On the line was not only Greece's destiny but also the harsh austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury and shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
