Within his recently unveiled memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back while he revisits the chaotic era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras selected that maverick economist Varoufakis to be the finance minister mainly because of the latter's international reputation along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more of a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that Varoufakis had his own motives which included promoting his books as well as testing out his own theories on the nation rather than genuinely fighting for the country's financial survival.
He noted that those discussions to stave off insolvency were “not just a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's future but also those punishing cutbacks demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move that plunged the EU into a deeper existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
He further wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating Grexit.
The account of events has been met with anger and shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
