Within his freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be his treasury head mainly because of the latter's international reputation along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, in reality, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal motives which included promoting Varoufakis's publications as well as testing out his own game theories using the nation instead of genuinely advocating the country's financial survival.
Tsipras wrote that the discussions to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his ideas.”
Critical Negotiations
During volatile negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's future and the punishing austerity measures required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, a move that threw the EU into further existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.
