Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, Tsipras selected that maverick academic Varoufakis as the finance minister largely because of his worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis had his own agenda that involved promoting Varoufakis's books and experimenting with his game theories on the nation rather than truly advocating the country's economic stability.
Tsipras explained how the talks to prevent bankruptcy became “not only a way to secure a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay both Greece's future and those punishing austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate management.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
The retelling of history has been met with fury and shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
