Within his freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits the turbulent era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras chose the unorthodox academic Varoufakis as his finance minister primarily due to the latter's worldwide fame and his highly compelling skills as a speaker.
“He was, in reality, more like a star and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal agenda that included promoting Varoufakis's books and experimenting with his economic models using the nation rather than genuinely fighting for its economic stability.
Tsipras wrote how the talks to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
On the line lay both Greece's future but also those severe austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result and negotiate a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency and distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras further claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger and shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
