In a freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines that turbulent era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose that unorthodox academic Varoufakis to be the finance minister mainly because of his global profile along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed his own motives that involved promoting Varoufakis's publications and experimenting with his theories using the nation rather than truly fighting for the country's financial survival.
He noted how those discussions to prevent bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
On the line lay not only the country's destiny but also those harsh austerity policies required in return for financial aid by foreign lenders.
Failed Options
Efforts to find funds from other sources, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, a move that threw Europe into deeper existential crisis.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
He further wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
