Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, Tsipras selected that unorthodox economist Varoufakis to be the finance minister primarily because of his international reputation and his highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges how his finance chief had a personal motives which involved promoting his publications as well as testing out his own economic models on the nation instead of genuinely advocating the country's financial survival.
Tsipras noted that those discussions to avoid insolvency were “not only a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was both the country's destiny and the punishing cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action which threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by voters against austerity, Tsipras had little option but to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency and issuing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras further claimed that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
The account of history has been met with fury along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
