Within his freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines the turbulent period during Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose that unorthodox economist Varoufakis to be his treasury head mainly due to his global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims that his finance chief had his own motives that involved promoting Varoufakis's books and experimenting with his own game theories using the nation rather than truly advocating the country's financial survival.
Tsipras wrote that those discussions to avoid bankruptcy were “not just a method of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny and the harsh austerity policies required in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, an action that threw the EU into deeper existential crisis.
Although the referendum was won decisively by those against the cuts, the prime minister had little option but to ignore the result then agree to a bailout package from foreign lenders that turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also claimed that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
