In a freshly published memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, Tsipras selected the unorthodox economist Varoufakis to be his finance minister mainly because of the latter's worldwide fame and his very persuasive skills when it came to speaker.
“He was, actually, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed his own motives that included promoting his books and testing out his own theories on Greece instead of truly fighting for the country's financial survival.
Tsipras explained how the discussions to stave off insolvency became “not just a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
During rollercoaster negotiations, Greece came perilously close to leaving the eurozone.
On the line was both Greece's destiny but also those severe austerity policies required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, the leader knew it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
He further wrote that his confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
