In a newly released memoir, called Ithaki, the former leader Alexis Tsipras does not hold back while he revisits that turbulent era of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, he selected the unorthodox economist Varoufakis to be his treasury head largely because of his worldwide fame along with his very persuasive skills as a speaker.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal agenda which involved advancing Varoufakis's publications as well as testing out his own theories using the nation instead of truly fighting for the country's financial survival.
He wrote how the talks to avoid insolvency became “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's destiny and those punishing austerity measures required in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that threw the EU into a deeper existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result and negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing coupons to retirees, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal that required complex and sensitive handling.”
He also claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
