Within his recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras selected that unorthodox economist Varoufakis to be the treasury head mainly because of the latter's international reputation along with Varoufakis's very persuasive abilities when it came to speaker.
“He was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had his own motives that involved promoting his publications and experimenting with his theories on Greece rather than genuinely advocating its financial survival.
Tsipras explained that those negotiations to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line was not only Greece's future but also those punishing cutbacks required in exchange for financial aid from international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which threw Europe into further existential crisis.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors that proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
