Within his newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, Tsipras chose that maverick economist Varoufakis to be his treasury head largely because of the latter's global profile and his highly compelling skills when it came to speaker.
“He was, truthfully, more of a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests that his finance chief had a personal agenda which involved advancing Varoufakis's publications and testing out his own economic models on the nation instead of truly advocating the country's financial survival.
He wrote how those talks to stave off insolvency were “not only a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
During volatile negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny but also those harsh austerity measures demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those harsh conditions were put to a public vote, an action that plunged Europe into deeper existential crisis.
Although the vote was carried decisively by voters against the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
He also claimed how his confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
The account of events has provoked fury along with shock in some quarters, while the former minister has maintained a deafening silence on the matter.
