Within his recently unveiled memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits that chaotic period of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he selected that maverick academic Varoufakis to be the finance minister mainly due to his worldwide fame along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis had his own motives which included advancing his books as well as experimenting with his theories on Greece rather than genuinely fighting for the country's financial survival.
Tsipras wrote how the negotiations to prevent bankruptcy were “not just a method to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During tense negotiations, the country came dangerously close to leaving the eurozone.
On the line was not only the country's future and those severe cutbacks demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive bailout terms were put to a public vote, a move that threw Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks that were pushing for Grexit.
The retelling of events has provoked fury along with shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
