Within his recently unveiled personal account, titled Ithaki, the former leader Alexis Tsipras pulls no punches as he examines the turbulent era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras appointed the unorthodox economist Varoufakis to be his finance minister mainly due to the latter's global profile and his very persuasive skills when it came to speaker.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief possessed a personal motives which included promoting Varoufakis's books and testing out his theories using the nation rather than truly fighting for its financial survival.
Tsipras noted how the negotiations to prevent bankruptcy became “not only a method to secure improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, the country came perilously on the brink of leaving the eurozone.
On the line was both the country's destiny but also the severe austerity measures required in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were subjected to a public vote, a move that threw Europe into deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal with creditors that proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, the author concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
He further wrote that his confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This account of history has been met with anger and shock in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
