Within his newly released memoir, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines that chaotic period during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras appointed the maverick academic Varoufakis as his treasury head largely due to his worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed his own agenda which involved promoting his books as well as testing out his own theories on the nation rather than truly fighting for its economic stability.
He explained that the negotiations to stave off bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
During volatile discussions, the country came dangerously on the brink of exiting the single currency area.
On the line lay both Greece's future and those severe austerity policies required in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh conditions were put to a popular referendum, a move which threw the EU into deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result then negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a contingency plan involving creating a parallel currency and issuing coupons to pensioners, the leader said he realised that it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate management.”
He further claimed that his confrontational style left him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
