Within his freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, he selected that unorthodox economist Varoufakis to be the treasury head mainly due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief had his own agenda that included promoting his books as well as testing out his game theories on Greece instead of truly fighting for its economic stability.
Tsipras wrote that those discussions to prevent insolvency were “not only a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, Greece came perilously close to leaving the eurozone.
At stake lay both the country's destiny and the punishing cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, an action which threw the EU into a further existential crisis.
Although the vote was carried resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency and issuing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
