In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that maverick economist Varoufakis as the treasury head primarily due to his international reputation along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, actually, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had his own motives that involved promoting his publications as well as testing out his own game theories on the nation instead of truly fighting for its financial survival.
He wrote how the discussions to avoid insolvency became “not just a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, the country came perilously close to leaving the eurozone.
At stake was not only Greece's destiny and the punishing austerity policies required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating bailout terms were put to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement that required complex and delicate management.”
He also wrote that his aggressive approach made him more and more alone with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This account of events has been met with fury along with shock in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
