Within his freshly published memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, he chose that unorthodox economist Varoufakis as the finance minister mainly due to his worldwide fame along with his highly compelling abilities when it came to public orator.
“He was, in reality, more of a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own motives that involved promoting Varoufakis's publications as well as experimenting with his own economic models on the nation instead of genuinely fighting for its financial survival.
He explained that those negotiations to prevent bankruptcy were “not only a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake lay both the country's destiny and the severe austerity measures demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate plea to Russia to buy Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced but to ignore the result and negotiate a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, the leader knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The account of events has provoked fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
