Within his newly released memoir, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, he chose the maverick academic Varoufakis as his treasury head largely because of the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal motives which involved advancing his publications and experimenting with his own game theories using the nation rather than truly advocating its financial survival.
Tsipras noted that the discussions to stave off insolvency became “not just a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
Critical Talks
Amid tense discussions, Greece found itself dangerously close to exiting the single currency area.
At stake lay not only Greece's destiny but also those punishing austerity measures required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras had little option but to ignore the result and negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate handling.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
