In a newly released memoir, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, he chose the maverick academic Varoufakis as the treasury head primarily because of the latter's worldwide fame and his highly compelling abilities as a public orator.
“He was, truthfully, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis had his own motives that involved promoting his publications and testing out his theories on the nation rather than truly advocating the country's financial survival.
He wrote how the discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They became a test, a monumental chance to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay both Greece's future but also those punishing austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek 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.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, an action which threw Europe into a further existential crisis.
Even though the referendum was carried decisively by those against the cuts, Tsipras had little option to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
