Within his newly released memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he reflects on the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose that maverick economist Varoufakis to be the finance minister primarily due to his global profile along with his very persuasive abilities as a communicator.
“He was, actually, more like a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis possessed a personal agenda which included advancing Varoufakis's books and testing out his economic models using Greece rather than genuinely advocating its economic stability.
Tsipras noted how the negotiations to avoid bankruptcy became “not only a way to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
Amid tense discussions, the country came perilously close to exiting the single currency area.
At stake lay both the country's future but also those harsh cutbacks demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh bailout terms were put to a popular referendum, a move which threw Europe into a further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency and issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
The account of events has provoked anger along with shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
