In a newly released memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, he chose that unorthodox economist Varoufakis as his treasury head largely due to the latter's global profile along with Varoufakis's highly compelling abilities as a public orator.
“He was, truthfully, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis had his own agenda that involved advancing Varoufakis's publications as well as experimenting with his own economic models on the nation rather than genuinely fighting for its financial survival.
He noted that the negotiations to prevent bankruptcy became “not just a way to secure improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's future and those harsh cutbacks demanded in return for financial aid by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move that threw Europe into further existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
He further wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
The account of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
