Within his recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras chose the unorthodox academic Varoufakis to be his finance minister mainly due to his worldwide fame and his highly compelling skills when it came to communicator.
“He was, truthfully, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief possessed a personal motives that involved advancing Varoufakis's publications and experimenting with his own theories on the nation rather than truly fighting for the country's economic stability.
Tsipras explained that those talks to stave off insolvency were “not just a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously close to exiting the eurozone.
On the line lay not only Greece's future but also those harsh austerity policies demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those punitive bailout terms were put to a popular referendum, an action which threw the EU into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras further wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks who were pushing for Grexit.
This retelling of history has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
