In a newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he examines the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras appointed that maverick economist Varoufakis as his treasury head primarily because of his worldwide fame along with his highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests how his finance chief possessed his own agenda which involved promoting his books as well as experimenting with his theories on Greece rather than genuinely advocating its economic stability.
He explained that those discussions to avoid bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake lay both the country's future but also the punishing cutbacks required in exchange for rescue loans from international creditors.
Failed Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, an action that threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
This account of events has been met with anger along with shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
