Within his freshly published personal account, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected that maverick economist Varoufakis as his finance minister mainly because of his international reputation and his highly compelling skills as a communicator.
“He was, actually, more like a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis had his own motives which involved advancing Varoufakis's publications and experimenting with his game theories on Greece rather than genuinely advocating its financial survival.
Tsipras noted that the discussions to prevent insolvency were “not only a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's future but also those harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move that plunged Europe into a further crisis of identity.
Even though the vote was won decisively by those who opposed austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
He also wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
