In a newly released personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, he chose that maverick academic Varoufakis to be the finance minister primarily because of the latter's worldwide fame along with his highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis possessed his own motives which included advancing Varoufakis's publications as well as testing out his economic models on the nation rather than truly advocating its economic stability.
He noted how the discussions to prevent bankruptcy were “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
During tense discussions, the country found itself dangerously close to leaving the eurozone.
At stake was both the country's destiny and those harsh austerity policies required in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
He further wrote that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This account of history has provoked fury and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
