Within his recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected the maverick economist Varoufakis as his finance minister primarily due to his worldwide fame and his highly compelling skills as a communicator.
“He was, in reality, more like a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal agenda that involved advancing his publications and testing out his game theories on Greece instead of genuinely advocating its financial survival.
He noted that those discussions to avoid bankruptcy were “not just a method of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
During volatile negotiations, the country came perilously close to leaving the single currency area.
At stake lay both Greece's destiny and those punishing austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, a move which plunged the EU into deeper existential crisis.
Even though the referendum was won decisively by those against austerity, the prime minister had little option but to ignore the result and agree to a rescue deal with foreign lenders which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unfit for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
