Within his freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
In Tsipras's account, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head mainly because of his global profile and his very persuasive skills when it came to communicator.
“He was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief had his own motives which included promoting his publications and experimenting with his own theories using Greece instead of genuinely advocating its economic stability.
Tsipras noted how the talks to prevent bankruptcy became “not just a method of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, Greece came perilously close to leaving the single currency area.
At stake was both Greece's future but also the severe cutbacks demanded in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
This retelling of history has provoked anger along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
