Within his freshly published personal account, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed that maverick economist Varoufakis as his treasury head primarily because of his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed his own agenda that involved promoting Varoufakis's books as well as testing out his own economic models using Greece rather than truly fighting for its economic stability.
He wrote that those negotiations to stave off insolvency were “not only a way of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the single currency area.
On the line lay not only Greece's destiny and those severe austerity measures required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself “unfit for a deal that required intricate and delicate management.”
He further wrote that his confrontational style left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
This retelling of events has provoked fury along with shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
