In a recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on the chaotic era of Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he appointed that maverick economist Varoufakis to be his finance minister primarily due to the latter's worldwide fame along with his highly compelling abilities when it came to speaker.
“He was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief had a personal motives that involved promoting his publications as well as testing out his game theories using the nation instead of genuinely advocating the country's financial survival.
Tsipras wrote how those negotiations to stave off insolvency were “not just a method to secure a better deal for Greece. They became a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously close to exiting the eurozone.
On the line was not only Greece's future but also the harsh austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the referendum was carried decisively by voters against austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with creditors that proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed that his confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
