Within his recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, he chose that maverick economist Varoufakis to be the finance minister largely due to the latter's international reputation along with his highly compelling skills as a speaker.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief had his own agenda that involved promoting his books and experimenting with his economic models using the nation rather than truly advocating the country's financial survival.
He noted that those negotiations to avoid bankruptcy were “not just a method to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of exiting the single currency area.
On the line was both the country's future and the severe cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors which turned out to be even harsher.
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 the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing 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?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He further wrote that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
