In a recently unveiled memoir, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines the turbulent period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, he chose that maverick academic Varoufakis to be the treasury head mainly because of his worldwide fame along with his “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal agenda which included advancing his publications and experimenting with his own economic models on the nation instead of genuinely advocating its economic stability.
Tsipras noted that those negotiations to prevent bankruptcy were “not just a way to secure a better deal for the country. They were an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake lay not only Greece's future but also the harsh austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras also wrote that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This account of history has provoked fury and shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
