Within his newly released memoir, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be his treasury head primarily because of his international reputation and his highly compelling abilities as a public orator.
“In reality, he was, actually, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal agenda that included promoting his publications and experimenting with his theories on the nation instead of truly fighting for the country's financial survival.
He wrote that those negotiations to prevent insolvency became “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid tense negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake was both Greece's destiny but also those harsh austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were put to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result then negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and helped hawks who were advocating Grexit.
The retelling of events has provoked fury and shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
