Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on the chaotic era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, he chose that unorthodox academic Varoufakis as the treasury head largely due to the latter's international reputation along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had his own agenda that involved advancing Varoufakis's books and experimenting with his own game theories on the nation rather than truly fighting for its economic stability.
He wrote that the talks to avoid insolvency became “not only a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line lay both Greece's destiny and the harsh cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those harsh bailout terms were put to a popular referendum, an action which threw Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package from foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis 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 relished his new role.”
After the minister outlined a contingency plan involving creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally had proved himself to be “unsuitable for a deal that required complex and delicate management.”
He further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
