Within his newly released memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.
An Unconventional Choice
In Tsipras's account, he selected the unorthodox economist Varoufakis as his finance minister largely due to the latter's international reputation along with his highly compelling skills when it came to public orator.
“He was, actually, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda that included promoting his publications as well as testing out his game theories using the nation rather than genuinely fighting for its financial survival.
He noted how the discussions to prevent bankruptcy became “not only a way to secure a better deal for the country. They were a test, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense discussions, the country came dangerously close to exiting the single currency area.
At stake lay not only Greece's destiny but also the severe cutbacks required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister had little option to ignore the result then negotiate a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, the author concludes how his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how his aggressive approach left him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
The account of history has been met with fury and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
