Within his newly released memoir, named Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he chose that unorthodox academic Varoufakis as his finance minister largely because of the latter's global profile and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more of a personality and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own motives that included advancing Varoufakis's publications as well as testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained that those talks to avoid insolvency were “not only a way of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came dangerously close to leaving the eurozone.
At stake was not only the country's destiny and the severe austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating conditions were put to a public vote, an action which threw Europe into a further crisis of identity.
Even though the vote was won resoundingly by those against the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate management.”
He also wrote that his aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has been met with anger and shock in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
