In a freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, he chose that maverick economist Varoufakis as the finance minister mainly because of his worldwide fame along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal motives that involved advancing his books as well as testing out his own economic models using the nation instead of genuinely fighting for its financial survival.
He wrote how those talks to avoid insolvency became “not just a way to secure improved terms for Greece. They became a test, a monumental chance to prove the truth of his ideas.”
Critical Negotiations
During volatile discussions, the country came dangerously close to exiting the eurozone.
On the line was not only Greece's destiny but also those harsh austerity measures demanded in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a public vote, an action that plunged the EU into a further crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, Tsipras was forced to ignore the result then agree to a bailout package with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
