In a newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed the unorthodox academic Varoufakis as the finance minister primarily due to his international reputation along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis had his own motives that involved advancing Varoufakis's books as well as testing out his game theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted that those discussions to avoid insolvency were “not just a way to secure a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was both Greece's destiny and those harsh austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were put to a popular referendum, a move that plunged the EU into further existential crisis.
Even though the vote was won decisively by those who opposed austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal with creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes that his former ally had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
This retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
