Within his recently unveiled memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's account, he appointed the unorthodox academic Varoufakis as his treasury head primarily due to his worldwide fame along with his highly compelling skills when it came to communicator.
“He was, in reality, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis had a personal motives which included advancing his publications as well as experimenting with his economic models using the nation instead of truly fighting for the country's economic stability.
Tsipras noted how the negotiations to avoid insolvency became “not only a way to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake lay both Greece's future but also the severe austerity measures required in exchange for rescue loans by international creditors.
Failed Options
Efforts to secure financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a public vote, an action which threw the EU into deeper existential crisis.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras had little option to reject its outcome then negotiate a bailout package with foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and delicate management.”
Tsipras also wrote that Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
This account of history has been met with fury and shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
