In a newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, Tsipras appointed that unorthodox academic Varoufakis as his finance minister largely due to his worldwide fame and Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more of a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had his own motives which involved promoting his books as well as testing out his theories on Greece instead of genuinely advocating the country's economic stability.
He explained that those talks to avoid bankruptcy became “not just a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line was both Greece's future but also the punishing cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action which threw Europe into deeper crisis of identity.
Although the referendum was won decisively by those against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal that required complex and delicate management.”
Tsipras further wrote that his confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of history has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
