Within his recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines the turbulent era during Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he chose the unorthodox economist Varoufakis to be his treasury head mainly because of his global profile along with his very persuasive skills when it came to speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief had his own motives that included advancing his books as well as experimenting with his game theories on Greece rather than genuinely advocating its economic stability.
He noted how those negotiations to stave off bankruptcy were “not just a way to secure a better deal for the country. They became a test, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country came dangerously close to leaving the single currency area.
On the line lay not only the country's future and the severe cutbacks demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the harsh conditions were put to a public vote, a move that plunged Europe into deeper existential crisis.
Even though the vote was carried resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a secondary currency and distributing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further wrote that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of events has provoked fury and shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
