Within his newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras chose that unorthodox economist Varoufakis to be his finance minister largely because of his worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own motives which involved advancing his publications and experimenting with his own theories on Greece instead of genuinely fighting for the country's economic stability.
He noted how those talks to avoid insolvency became “not only a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously close to leaving the single currency area.
At stake was both Greece's future and the punishing austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were put to a public vote, an action that threw Europe into a further crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also claimed how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
This retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
