Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, Tsipras selected that maverick economist Varoufakis to be the finance minister mainly because of his international reputation along with his very persuasive abilities as a public orator.
“He was, in reality, more like a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how Varoufakis had his own motives which involved advancing Varoufakis's books as well as testing out his theories on the nation rather than genuinely advocating its financial survival.
He noted that the negotiations to avoid bankruptcy became “not only a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay both the country's destiny but also those punishing cutbacks required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
That summer, the harsh conditions were put to a public vote, a move that threw Europe into a further crisis of identity.
Although the referendum was carried resoundingly by voters against austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and distributing coupons to retirees, Tsipras knew it was game over and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further wrote that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This retelling of history has been met with fury along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
