In a freshly published memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines the chaotic era during Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras selected that maverick economist Varoufakis as the finance minister largely due to his international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda which included promoting Varoufakis's books as well as experimenting with his economic models on the nation rather than genuinely fighting for its economic stability.
He explained how the negotiations to stave off insolvency were “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense discussions, the country came perilously on the brink of leaving the eurozone.
On the line lay not only the country's destiny and those punishing cutbacks required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Although the referendum was carried resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
He further claimed how his confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with anger along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
