In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the chaotic era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he selected that unorthodox academic Varoufakis to be the treasury head mainly due to the latter's global profile along with his very persuasive abilities as a public orator.
“He was, actually, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief had his own motives that included advancing his books and experimenting with his own theories on Greece rather than truly advocating the country's economic stability.
He explained that the discussions to avoid insolvency were “not only a method to secure improved terms for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
During tense discussions, Greece found itself perilously close to leaving the single currency area.
On the line was not only the country's future and the severe austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, an action which threw the EU into a further crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister was forced to ignore the result and negotiate a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his aggressive style left him more and more alone among peers, put Greece at risk, and helped hawks that were advocating Grexit.
The account of history has been met with fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
