In a recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism while he examines the turbulent period of Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras selected that maverick economist Varoufakis as his treasury head largely because of his international reputation and his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had a personal motives which included promoting Varoufakis's books as well as experimenting with his own game theories using Greece rather than genuinely advocating its financial survival.
He noted that the negotiations to prevent insolvency were “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
Critical Negotiations
During volatile discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake was both Greece's destiny but also those punishing cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were put to a public vote, a move which threw Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for an agreement that required intricate and sensitive handling.”
He further wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
