Within his freshly published memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis as his treasury head primarily due to the latter's international reputation and his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief had his own motives which involved promoting Varoufakis's books and experimenting with his economic models using the nation instead of truly advocating the country's financial survival.
He noted how the talks to stave off bankruptcy became “not just a way to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's destiny and those severe austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move which plunged Europe into further existential crisis.
Although the vote was carried resoundingly by those against austerity, the prime minister was forced to reject its outcome then agree to a rescue deal with creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed that his confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
