In a recently unveiled memoir, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras selected that maverick economist Varoufakis to be the treasury head largely because of his worldwide fame and his “extremely attractive” skills when it came to public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis had his own motives which involved advancing his books as well as experimenting with his own game theories using Greece instead of truly fighting for the country's financial survival.
Tsipras wrote that those negotiations to stave off insolvency became “not just a method to secure improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, the country came dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future but also those harsh cutbacks required in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were put to a public vote, a move which threw the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet on the matter.
