In a recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, he selected that unorthodox economist Varoufakis as his treasury head mainly due to his international reputation along with his very persuasive skills when it came to public orator.
“He was, actually, more of a personality and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis had a personal agenda that included promoting Varoufakis's books and experimenting with his own theories on Greece instead of truly fighting for the country's economic stability.
Tsipras noted how the negotiations to avoid bankruptcy became “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid tense negotiations, Greece came dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's future and those harsh austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which plunged Europe into further crisis of identity.
Even though the referendum was won decisively by those against the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
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 figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He also claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The retelling of events has been met with anger and shock among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
