In a freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, Tsipras appointed that unorthodox economist Varoufakis as the finance minister mainly due to the latter's international reputation and his highly compelling skills when it came to speaker.
“He was, truthfully, more like a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief had his own motives which involved advancing Varoufakis's books and testing out his own theories using Greece rather than truly fighting for the country's financial survival.
Tsipras wrote that the discussions to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense discussions, the country found itself dangerously close to leaving the single currency area.
On the line was not only Greece's future but also the harsh cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action that threw Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
He also wrote how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
This account of events has provoked anger along with stunned disbelief in some quarters, while the former minister has kept a deafening silence on the matter.
