Within his recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he examines that turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, he chose that unorthodox economist Varoufakis as the finance minister 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 rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own agenda that involved advancing Varoufakis's publications and testing out his own theories using the nation rather than truly advocating the country's economic stability.
He noted that the discussions to stave off insolvency became “not only a method to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
At stake was not only Greece's destiny but also those severe austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the punitive bailout terms were subjected to a public vote, a move that threw the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
After the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed how his confrontational approach made him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
