Within his recently unveiled memoir, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, he appointed that unorthodox academic Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had a personal agenda that involved advancing Varoufakis's publications as well as experimenting with his theories on Greece instead of genuinely advocating its economic stability.
Tsipras noted how the negotiations to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line was both the country's future but also those harsh austerity policies demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action that threw Europe into a further existential crisis.
Although the referendum was won decisively by those against austerity, the prime minister was forced to reject its outcome then agree to a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
He also wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has been met with fury along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
