Within his freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected the unorthodox economist Varoufakis to be his finance minister mainly because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a star and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis had his own agenda that involved advancing Varoufakis's books as well as testing out his own game theories on the nation instead of truly advocating the country's financial survival.
Tsipras noted that those negotiations to stave off bankruptcy became “not only a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line was both Greece's future but also those severe austerity measures demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were subjected to a public vote, a move that plunged the EU into further existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome and negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency and distributing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras further claimed that his confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
