In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose that unorthodox academic Varoufakis to be his finance minister largely because of the latter's worldwide fame along with his highly compelling skills when it came to communicator.
“He was, truthfully, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader alleges how his finance chief had a personal motives that included advancing Varoufakis's publications and testing out his game theories on Greece rather than truly fighting for its economic stability.
Tsipras explained that those talks to prevent insolvency were “not only a way of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay not only the country's destiny and the severe austerity measures required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move that threw Europe into a further crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has been met with fury and shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
