Within his newly released personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he reflects on the turbulent era during Greece's debt drama.
An Unconventional Choice
In Tsipras's recollections, Tsipras chose that maverick economist Varoufakis to be the finance minister largely because of his worldwide fame and his highly compelling skills when it came to public orator.
“He was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed his own motives that involved promoting his publications and testing out his own economic models on the nation rather than truly fighting for the country's economic stability.
Tsipras noted how those negotiations to stave off bankruptcy became “not just a method to secure a better deal for Greece. They were a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During tense discussions, the country came perilously close to leaving the eurozone.
On the line lay not only the country's future but also the harsh cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was game over questioning him: “Are you serious?”
Lasting Criticism
In the book, the author asserts how Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
The account of events has provoked fury along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
