Within his recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras spares no criticism while he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's recollections, Tsipras appointed that unorthodox economist Varoufakis to be the finance minister largely due to the latter's global profile along with his very persuasive abilities when it came to speaker.
“He was, truthfully, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief possessed his own motives which included advancing Varoufakis's books as well as experimenting with his theories using Greece rather than truly advocating the country's financial survival.
Tsipras explained that those negotiations to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid tense discussions, Greece came dangerously close to exiting the eurozone.
At stake was not only Greece's future and the severe austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package with creditors which proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency and distributing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also wrote that his confrontational style made him more and more alone among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This account of history has been met with fury along with shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
