In a recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he chose the unorthodox economist Varoufakis as the finance minister largely because of the latter's global profile along with his highly compelling abilities when it came to communicator.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own agenda that involved advancing his publications and testing out his game theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained how the negotiations to prevent bankruptcy were “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
During tense discussions, the country found itself dangerously close to leaving the single currency area.
At stake was not only Greece's destiny but also the punishing cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal with foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He further wrote how his aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
