Within his freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he examines that chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he selected the unorthodox economist Varoufakis as the finance minister mainly because of his worldwide fame along with his very persuasive skills when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had a personal motives that involved advancing Varoufakis's books and testing out his economic models using Greece instead of genuinely fighting for its economic stability.
He explained that the discussions to prevent insolvency became “not only a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was both the country's destiny but also those severe austerity policies demanded in return for bailout funds from international creditors.
Failed Options
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating conditions were put to a popular referendum, an action that threw Europe into a further existential crisis.
Even though the vote was won decisively by voters against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal with foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate management.”
Tsipras further wrote how his aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating Grexit.
This account of events has been met with fury and shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
