Within his freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, Tsipras selected that unorthodox economist Varoufakis to be his finance minister primarily due to the latter's global profile along with his highly compelling skills when it came to communicator.
“In reality, he was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis possessed his own agenda which involved promoting his publications and testing out his economic models on Greece rather than truly fighting for its financial survival.
Tsipras noted how the talks to stave off insolvency became “not only a method to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's future and those punishing austerity measures demanded in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action that threw Europe into further existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate handling.”
Tsipras further wrote that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
