Within his recently unveiled autobiography, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, Tsipras appointed the maverick economist Varoufakis to be his treasury head largely due to the latter's international reputation along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more of a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis had a personal motives that included promoting Varoufakis's publications as well as testing out his theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras explained how those negotiations to avoid insolvency were “not only a way of achieving a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake was both the country's destiny and the severe austerity measures required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Although the vote was carried decisively by those who opposed austerity, Tsipras was forced to ignore the result and agree to a bailout package with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was game over questioning him: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes that Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”
Tsipras also wrote how his confrontational style made him more and more alone among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
