Within his recently unveiled personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, he selected that maverick economist Varoufakis to be the treasury head largely because of the latter's international reputation along with his highly compelling abilities as a speaker.
“He was, in reality, more of a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed a personal agenda which included advancing his books and experimenting with his own game theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras noted that the discussions to prevent insolvency were “not only a way to secure improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay both Greece's future and those harsh austerity policies required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were put to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader said he realised it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The account of events has provoked anger and shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
