In a freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the turbulent period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be his treasury head largely due to his worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own agenda that involved promoting Varoufakis's books and testing out his theories using the nation rather than truly fighting for the country's economic stability.
He explained that the discussions to stave off insolvency became “not just a way to secure a better deal for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid volatile negotiations, the country found itself dangerously close to exiting the single currency area.
On the line lay not only the country's future but also those harsh cutbacks required in exchange for bailout funds by international creditors.
Failed Options
Attempts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating conditions were put to a popular referendum, a move that threw Europe into further existential crisis.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to retirees, Tsipras knew that it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for a deal demanding complex and sensitive management.”
He also claimed how his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
The retelling of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
