In a newly released personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches as he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, Tsipras chose the unorthodox economist Varoufakis to be his treasury head primarily due to his global profile along with his “extremely attractive” abilities as a public orator.
“He was, actually, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief possessed a personal motives which involved advancing Varoufakis's publications and testing out his own game theories on Greece instead of truly fighting for the country's economic stability.
Tsipras wrote how the negotiations to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line was not only the country's destiny and the harsh cutbacks required in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing elsewhere, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, an action which plunged Europe into a further existential crisis.
Although the vote was carried resoundingly by voters against austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
This retelling of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
