In a newly released memoir, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits the chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's account, he chose the unorthodox academic Varoufakis as the treasury head primarily due to the latter's worldwide fame and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis had a personal agenda which involved advancing his publications as well as experimenting with his own economic models using the nation instead of genuinely advocating the country's financial survival.
He wrote how the discussions to prevent insolvency became “not only a way to secure improved terms for the country. They became a test, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line was both the country's destiny but also the punishing austerity policies demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors which turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself to be “unfit for an agreement that required complex and delicate handling.”
Tsipras also wrote how his confrontational style left him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
