Within his recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on that turbulent period during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, he chose the unorthodox economist Varoufakis to be his finance minister largely due to his worldwide fame and his highly compelling skills as a public orator.
“He was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that his finance chief possessed his own motives which included promoting Varoufakis's publications and testing out his game theories on Greece rather than genuinely advocating its financial survival.
Tsipras noted that the negotiations to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They were a test, an historic chance to prove the truth of his theories.”
Critical Talks
During tense discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line was both the country's destiny but also the severe cutbacks demanded in return for rescue loans from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, an action which plunged the EU into a further existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He further claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
