Within his recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras pulls no punches as he examines the chaotic period of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis to be the treasury head largely because of his international reputation along with his very persuasive skills as a public orator.
“He was, in reality, more like a star and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal agenda which included advancing Varoufakis's books and testing out his own game theories on the nation instead of truly advocating the country's financial survival.
Tsipras noted how the discussions to prevent bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line lay not only the country's destiny but also those severe cutbacks required in return for rescue loans from international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, a move that plunged the EU into further existential crisis.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced but to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Enduring Criticism
In the book, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also claimed that his confrontational style made him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
The retelling of history has provoked fury along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
