In a recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on the chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, Tsipras selected the maverick economist Varoufakis as the finance minister largely due to his global profile along with his “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis had a personal agenda which included advancing his publications as well as testing out his own theories using the nation instead of truly fighting for the country's economic stability.
He explained how those negotiations to avoid bankruptcy were “not only a way of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously close to leaving the single currency area.
At stake lay not only Greece's destiny and the punishing austerity policies demanded in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive conditions were put to a popular referendum, a move which threw Europe into further existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
He further wrote that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief in some quarters, while the former minister has kept a deafening silence on the matter.
