Within his freshly published personal account, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, Tsipras selected that maverick economist Varoufakis as his finance minister primarily because of the latter's international reputation and his “extremely attractive” skills when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that Varoufakis possessed a personal agenda which included promoting his books and experimenting with his own theories on Greece rather than genuinely fighting for its financial survival.
Tsipras explained that the negotiations to stave off bankruptcy were “not just a way to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny but also those harsh austerity policies demanded in exchange for financial aid from international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a popular referendum, a move that plunged the EU into a deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, the leader knew that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
The account of history has been met with fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
