In a recently unveiled memoir, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines the turbulent era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras selected that unorthodox academic Varoufakis as his finance minister largely due to the latter's global profile and his highly compelling skills as a communicator.
“In reality, he was, actually, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed his own motives which included promoting his books and testing out his own game theories on Greece rather than genuinely fighting for the country's economic stability.
He wrote that those negotiations to prevent bankruptcy became “not only a way of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line was not only Greece's destiny but also those punishing cutbacks required in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Although the vote was won decisively by those against austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal from creditors which proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hawks who were advocating Grexit.
This account of events has provoked anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
