Within his freshly published memoir, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, he appointed the unorthodox economist Varoufakis as the treasury head largely because of his international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief possessed a personal motives which included promoting Varoufakis's publications and experimenting with his own theories on the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained how the talks to prevent insolvency became “not only a way to secure improved terms for the country. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's future but also those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move that threw Europe into a further crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then agree to a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive management.”
He also claimed that his confrontational style left him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
The account of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
