Within his freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he selected that unorthodox economist Varoufakis as his treasury head mainly due to the latter's global profile along with his “extremely attractive” skills when it came to communicator.
“He was, actually, more like a star rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief possessed his own motives that involved advancing Varoufakis's publications as well as testing out his economic models using Greece rather than truly fighting for its economic stability.
Tsipras explained that those negotiations to prevent insolvency became “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
During volatile discussions, the country came perilously on the brink of exiting the single currency area.
At stake lay not only Greece's future and those punishing cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were put to a public vote, a move that threw Europe into deeper crisis of identity.
Although the vote was won decisively by voters against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package with creditors that proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
