In a newly released memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, Tsipras appointed that maverick economist Varoufakis as his finance minister largely because of the latter's worldwide fame along with his “extremely attractive” abilities when it came to speaker.
“He was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed a personal agenda which included advancing his books as well as experimenting with his own game theories on the nation instead of genuinely fighting for the country's economic stability.
Tsipras explained that those talks to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously close to leaving the single currency area.
At stake was both Greece's destiny and those severe austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action which threw the EU into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
