Within his recently unveiled personal account, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, he appointed the unorthodox academic Varoufakis to be his finance minister primarily because of the latter's global profile and his very persuasive abilities as a public orator.
“He was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had his own agenda which involved promoting his books as well as testing out his theories on Greece instead of truly fighting for the country's economic stability.
He noted that the talks to prevent bankruptcy were “not just a method of achieving improved terms for Greece. They were an experiment, an historic chance to prove the validity of his theories.”
Critical Talks
Amid volatile negotiations, Greece came perilously close to exiting the single currency area.
At stake lay both the country's destiny and the severe austerity policies demanded in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into a further existential crisis.
Even though the referendum was won decisively by those against the cuts, the prime minister was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a parallel currency and distributing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts how his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also claimed that his aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked anger and shock in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
