Within his recently unveiled memoir, titled Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, he selected the unorthodox economist Varoufakis to be the finance minister primarily due to the latter's worldwide fame and his “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed his own agenda which included advancing Varoufakis's publications and experimenting with his own economic models using the nation instead of genuinely fighting for its financial survival.
He wrote how those talks to avoid insolvency were “not only a method of achieving improved terms for the country. They were a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay not only Greece's future and those harsh cutbacks demanded in exchange for financial aid by international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive conditions were put to a public vote, a move that threw Europe into deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
This account of history has provoked anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
