Within his recently unveiled memoir, called Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic period during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, Tsipras chose that maverick academic Varoufakis as the finance minister mainly because of his global profile and Varoufakis's very persuasive skills as a communicator.
“He was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed his own motives that involved advancing Varoufakis's books as well as experimenting with his own game theories on the nation instead of genuinely advocating its economic stability.
He explained how the negotiations to prevent bankruptcy were “not only a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Talks
During rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
On the line lay both Greece's future but also those severe austerity measures required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those harsh conditions were subjected to a public vote, an action that plunged the EU into a further crisis of identity.
Even though the vote was won decisively by those against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
