Within his freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines that turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, he appointed that unorthodox economist Varoufakis as his finance minister primarily due to the latter's global profile along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own agenda that included promoting his publications as well as experimenting with his own theories using the nation rather than truly fighting for its financial survival.
Tsipras noted how the talks to prevent bankruptcy were “not only a method of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, Greece came dangerously close to leaving the eurozone.
On the line was not only the country's future and the punishing cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal with foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding complex and delicate management.”
He further wrote how his confrontational style left him more and more alone among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
This account of history has provoked fury along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
