In a freshly published personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines that turbulent era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he chose that maverick economist Varoufakis as the finance minister largely because of his global profile and his very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis possessed a personal motives that included advancing Varoufakis's publications and testing out his own economic models on the nation rather than genuinely advocating its economic stability.
He wrote that those negotiations to avoid insolvency became “not just a method of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay both Greece's destiny and those harsh austerity measures required in return for bailout funds from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, an action which plunged the EU into further existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
He further wrote that his aggressive style left him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for Grexit.
This retelling of events has been met with fury along with shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
