In a newly released memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras appointed that unorthodox economist Varoufakis as his treasury head largely due to his international reputation along with Varoufakis's very persuasive skills as a speaker.
“He was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis had his own motives which involved promoting his books as well as testing out his own game theories on Greece rather than truly advocating the country's economic stability.
He explained that those talks to avoid bankruptcy became “not just a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also the punishing austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, an action which threw the EU into a further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal with creditors that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for a deal demanding complex and delicate management.”
He further claimed how his confrontational style left him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
