Within his freshly published memoir, called Ithaki, the former premier Alexis Tsipras spares no criticism as he examines that chaotic era during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, Tsipras selected the maverick economist Varoufakis to be his treasury head mainly because of his worldwide fame along with Varoufakis's “extremely attractive” abilities as a communicator.
“He was, actually, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis possessed a personal motives which involved advancing Varoufakis's books as well as experimenting with his theories using the nation rather than genuinely advocating its financial survival.
Tsipras explained that those negotiations to avoid insolvency were “not only a method to secure a better deal for the country. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line was not only the country's future but also the harsh cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Although the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He further claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
