Within his newly released memoir, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he reflects on the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, Tsipras appointed the unorthodox economist Varoufakis to be his finance minister largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, in reality, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis had his own agenda which included advancing Varoufakis's books as well as testing out his game theories using Greece instead of truly fighting for its financial survival.
Tsipras noted that the negotiations to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's future and the punishing austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, an action which threw Europe into a further existential crisis.
Even though the vote was carried resoundingly by voters against austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to retirees, the leader knew that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unfit for a deal demanding complex and delicate handling.”
Tsipras further wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
