Within his recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, Tsipras selected that maverick academic Varoufakis as his treasury head primarily due to his international reputation and Varoufakis's highly compelling skills as a public orator.
“He was, actually, more of a personality rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader claims that his finance chief had a personal motives that included promoting Varoufakis's books and testing out his own economic models on Greece rather than truly fighting for its financial survival.
Tsipras noted how those talks to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake was not only Greece's future but also those punishing cutbacks required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the punitive bailout terms were put to a public vote, an action which plunged the EU into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras also wrote that his aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury along with shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
