Within his newly released memoir, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that turbulent period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, Tsipras appointed the unorthodox academic Varoufakis as his treasury head primarily due to the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis had a personal motives that included advancing Varoufakis's books as well as testing out his theories using Greece instead of truly fighting for its economic stability.
Tsipras wrote that those negotiations to avoid insolvency were “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the eurozone.
At stake lay both the country's destiny but also those harsh cutbacks required in exchange for rescue loans by international creditors.
Failed Options
Attempts to find funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were subjected to a public vote, a move which threw Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
He also wrote that his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
