Within his newly released memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, he appointed the maverick economist Varoufakis to be his finance minister primarily because of his worldwide fame and his very persuasive abilities as a communicator.
“In reality, he was, truthfully, more like a star rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief possessed his own agenda which involved advancing Varoufakis's books and testing out his economic models on Greece instead of truly advocating the country's economic stability.
He noted that those negotiations to prevent insolvency were “not just a way to secure a better deal for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself perilously close to leaving the single currency area.
On the line lay both the country's destiny but also the punishing cutbacks required in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were subjected to a public vote, a move that threw the EU into further existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for an agreement that required complex and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
