In a recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose the maverick academic Varoufakis as his treasury head largely because of his international reputation and his very persuasive abilities when it came to public orator.
“He was, truthfully, more of a star and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his game theories on the nation instead of genuinely advocating its financial survival.
Tsipras noted how those talks to avoid insolvency were “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
At stake was not only the country's future and the harsh cutbacks required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, an action which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result then agree to a bailout package from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
He also claimed how Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for Grexit.
The retelling of events has been met with fury along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
