In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines the chaotic period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis as his treasury head largely because of his global profile and his highly compelling abilities when it came to public orator.
“He was, actually, more like a personality and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed his own motives which involved advancing Varoufakis's books and testing out his own theories on Greece rather than truly fighting for the country's economic stability.
Tsipras noted that the negotiations to avoid bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Talks
During tense discussions, the country came perilously close to exiting the eurozone.
At stake lay not only Greece's future but also the harsh austerity policies demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those punitive conditions were put to a public vote, a move which plunged the EU into a further crisis of identity.
Even though the vote was carried decisively by those against austerity, Tsipras was forced to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for a deal that required intricate and sensitive management.”
Tsipras further wrote that his aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
This retelling of events has provoked anger and shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
