Within his recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected that unorthodox academic Varoufakis as the finance minister mainly due to the latter's international reputation and his “extremely attractive” abilities as a speaker.
“He was, actually, more of a star rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis had his own agenda that included advancing his publications and testing out his theories using Greece instead of truly advocating the country's financial survival.
Tsipras noted how the negotiations to stave off insolvency became “not just a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake lay not only Greece's future but also the severe austerity policies required in return for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were put to a public vote, an action which threw the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and agree to a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally had proved himself “unfit for a deal that required intricate and sensitive handling.”
He further wrote that his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for Grexit.
The account of events has provoked anger along with shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
