Within his newly released personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines the turbulent period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis to be the treasury head primarily because of the latter's global profile along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal motives which included advancing his books as well as testing out his theories on the nation rather than truly advocating the country's financial survival.
Tsipras noted that those discussions to stave off insolvency became “not only a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid tense negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line lay both the country's destiny but also the harsh cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, a move that plunged Europe into a further existential crisis.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further claimed how his aggressive style left him increasingly isolated among peers, endangered the country, while assisted hawks who were advocating Grexit.
This account of events has been met with fury along with shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
