Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected that maverick economist Varoufakis as his finance minister primarily because of his international reputation along with his highly compelling abilities as a public orator.
“He was, actually, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis had a personal motives that involved advancing his books as well as experimenting with his own economic models using Greece rather than genuinely advocating its financial survival.
He explained how the discussions to avoid bankruptcy became “not just a way to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came perilously close to exiting the single currency area.
At stake was not only the country's future but also those punishing austerity measures required in return for financial aid by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, a move which plunged the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by those against austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
