Within his freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the chaotic period during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's recollections, he selected the maverick economist Varoufakis to be his treasury head largely due to the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda which involved advancing Varoufakis's books and experimenting with his theories on Greece rather than truly fighting for its financial survival.
Tsipras noted how those discussions to avoid insolvency became “not only a method to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense negotiations, the country came perilously close to exiting the eurozone.
On the line lay both the country's destiny and the punishing cutbacks required in return for financial aid from international creditors.
Failed Alternatives
Attempts to find financing from other sources, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action which plunged Europe into a further existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He also claimed that his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
