Within his recently unveiled personal account, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be the finance minister primarily due to the latter's global profile along with Varoufakis's highly compelling abilities as a public orator.
“He was, in reality, more of a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal agenda that included promoting Varoufakis's books and experimenting with his theories on Greece rather than truly advocating the country's financial survival.
Tsipras explained that the discussions to prevent insolvency were “not just a method to secure improved terms for the country. They became an experiment, a monumental chance to prove the validity of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the single currency area.
On the line lay both the country's destiny and the severe austerity measures demanded in return for financial aid by international creditors.
Failed Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a public vote, a move that threw Europe into further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving creating a parallel currency and distributing coupons to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
