In a newly released memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose the unorthodox economist Varoufakis to be his finance minister largely because of his worldwide fame along with his very persuasive abilities when it came to speaker.
“He was, in reality, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own motives that involved advancing his books as well as testing out his own game theories using the nation rather than truly fighting for its financial survival.
He explained that those talks to stave off bankruptcy were “not just a method to secure a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
During tense negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake lay both the country's destiny but also the harsh austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a public vote, a move which plunged Europe into deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
He further wrote that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for Grexit.
This account of history has been met with anger and shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
