Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, he selected that unorthodox academic Varoufakis as his finance minister largely because of his worldwide fame and Varoufakis's very persuasive skills as a speaker.
“He was, truthfully, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief possessed his own motives that involved promoting Varoufakis's publications and experimenting with his own theories using Greece rather than genuinely advocating the country's financial survival.
He noted that those discussions to avoid bankruptcy became “not just a method to secure a better deal for the country. They became an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself perilously close to leaving the eurozone.
On the line lay not only the country's future and those severe austerity policies required in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive conditions were put to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result and agree to a bailout package from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
He further claimed that his aggressive style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for Grexit.
This account of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
