In a freshly published personal account, called Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, he appointed that maverick economist Varoufakis as the treasury head largely due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own agenda that involved promoting Varoufakis's publications and testing out his own economic models on Greece rather than genuinely fighting for its financial survival.
Tsipras explained that those negotiations to stave off insolvency were “not just a method of achieving improved terms for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny and the punishing austerity measures demanded in return for rescue loans by international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, a move which threw the EU into deeper existential crisis.
Even though the referendum was carried resoundingly by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
He further claimed that his confrontational approach made him more and more alone among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
