Within his newly released memoir, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the turbulent period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he appointed that maverick economist Varoufakis as the finance minister largely because of his global profile and his very persuasive abilities as a speaker.
“He was, in reality, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief possessed a personal motives which involved advancing his publications as well as testing out his own game theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras wrote that those discussions to prevent bankruptcy were “not only a method of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
Critical Talks
During tense discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only the country's future and the harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, an action which plunged the EU into a further crisis of identity.
Even though the vote was carried decisively by voters against the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive management.”
He further claimed that his aggressive approach left him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
