In a freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits the chaotic era of Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras chose that maverick academic Varoufakis as his finance minister largely because of his worldwide fame and his highly compelling skills as a communicator.
“In reality, he was, actually, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own motives which involved advancing his books and experimenting with his own theories using the nation instead of genuinely advocating its financial survival.
Tsipras wrote that those negotiations to stave off insolvency were “not just a way to secure a better deal for Greece. They were a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, the country came dangerously close to leaving the eurozone.
On the line was both the country's destiny but also the severe austerity policies required in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package from creditors that proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts that Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
He further claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
The account of events has been met with anger and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
