Within his freshly published autobiography, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he chose the unorthodox academic Varoufakis to be his finance minister mainly because of the latter's worldwide fame and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had a personal agenda that included promoting his books as well as testing out his own game theories using Greece rather than truly fighting for the country's financial survival.
Tsipras explained that those talks to prevent bankruptcy were “not only a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake was not only Greece's destiny and those punishing cutbacks demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, a move which plunged Europe into a further existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister had little option but to ignore the result and agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
