In a recently unveiled memoir, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, he chose that maverick economist Varoufakis to be his treasury head primarily because of the latter's worldwide fame and Varoufakis's very persuasive skills when it came to speaker.
“He was, in reality, more of a star rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own agenda which included promoting his publications and experimenting with his economic models on Greece rather than truly fighting for the country's economic stability.
Tsipras noted that those negotiations to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of his theories.”
High-Stakes Talks
During tense negotiations, Greece found itself perilously close to leaving the eurozone.
At stake lay both the country's destiny and the harsh cutbacks required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action which threw Europe into a deeper existential crisis.
Although the vote was carried resoundingly by voters against austerity, Tsipras had little option to ignore the result and negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras also wrote how his confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
