Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on that chaotic era of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, he selected the unorthodox economist Varoufakis to be his finance minister primarily due to his worldwide fame and his very persuasive skills as a communicator.
“He was, actually, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief possessed a personal motives which included advancing Varoufakis's publications and testing out his own game theories using Greece instead of genuinely fighting for its financial survival.
Tsipras wrote that the talks to prevent bankruptcy were “not only a way of achieving improved terms for Greece. They became an experiment, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake was not only Greece's destiny but also the punishing austerity policies demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were put to a public vote, an action that plunged Europe into deeper existential crisis.
Although the referendum was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as issuing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself “unfit for a deal demanding complex and delicate management.”
Tsipras also claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were advocating Grexit.
The retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
