Within his recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, he chose the unorthodox economist Varoufakis as the treasury head primarily because of his global profile and Varoufakis's “extremely attractive” abilities as a speaker.
“He was, actually, more like a personality and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own agenda that included advancing his publications and testing out his theories on Greece rather than truly advocating the country's financial survival.
He wrote that those negotiations to prevent insolvency became “not only a method of achieving improved terms for the country. They became a test, an historic chance to prove the truth of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country found itself dangerously close to leaving the eurozone.
At stake was both the country's future and those harsh austerity measures demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action that plunged the EU into a deeper existential crisis.
Although the referendum was carried decisively by those who opposed austerity, Tsipras was forced to ignore the result then agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further claimed how his aggressive style left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
