In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines that chaotic era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, Tsipras chose that unorthodox academic Varoufakis as the finance minister largely due to his international reputation and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had his own agenda that involved advancing his publications as well as experimenting with his theories on the nation instead of truly fighting for its economic stability.
He noted that the talks to prevent insolvency became “not just a way to secure a better deal for Greece. They became a test, an historic chance to demonstrate the truth of his theories.”
Critical Negotiations
During tense negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay both Greece's destiny and those severe cutbacks demanded in return for rescue loans from international creditors.
Failed Options
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move which plunged Europe into a further existential crisis.
Although the vote was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a secondary currency and distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
The account of events has been met with fury and shock among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
