Within his freshly published autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he examines that turbulent era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he chose that unorthodox economist Varoufakis to be the treasury head primarily because of the latter's international reputation and Varoufakis's highly compelling skills when it came to communicator.
“He was, actually, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis had his own agenda that included promoting Varoufakis's publications as well as testing out his theories on the nation rather than truly fighting for the country's financial survival.
Tsipras explained how the talks to stave off bankruptcy were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
During volatile discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay not only the country's destiny and those severe cutbacks demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action that threw Europe into further existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then negotiate a rescue deal with creditors which proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
Tsipras also wrote how his aggressive style left him more and more alone among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
