In a freshly published memoir, named Ithaki, the former premier Alexis Tsipras spares no criticism as he reflects on the chaotic era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he appointed the maverick economist Varoufakis as his finance minister largely because of his international reputation and Varoufakis's “extremely attractive” skills as a communicator.
“He was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis had a personal motives which involved promoting his publications as well as testing out his economic models on the nation instead of genuinely advocating its economic stability.
He explained how the discussions to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Talks
During volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's destiny but also the severe austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the punitive bailout terms were put to a public vote, a move that plunged the EU into a further existential crisis.
Although the referendum was won decisively by voters against austerity, Tsipras had little option to ignore the result and negotiate a bailout package with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
He further claimed how his aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners who were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
