Within his freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines that chaotic period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the maverick economist Varoufakis to be his treasury head mainly because of the latter's global profile along with his “extremely attractive” skills when it came to speaker.
“He was, in reality, more of a celebrity and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief possessed his own agenda which involved advancing his books as well as experimenting with his theories on Greece instead of genuinely advocating the country's financial survival.
He explained that those talks to prevent insolvency were “not only a method to secure improved terms for the country. They were a test, a monumental chance to prove the validity of his economic theories.”
Critical Talks
Amid volatile discussions, the country came perilously close to exiting the eurozone.
On the line was not only Greece's future and those punishing austerity policies demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, an action which threw the EU into a further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister was forced to reject its outcome and agree to a bailout package from foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras also claimed how his aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This account of history has provoked fury along with shock in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
