Within his freshly published memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he revisits the turbulent period of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras selected the maverick academic Varoufakis to be the treasury head largely because of his worldwide fame and his “extremely attractive” abilities as a communicator.
“In reality, he was, actually, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal motives which involved promoting Varoufakis's publications and experimenting with his theories using the nation rather than genuinely fighting for its economic stability.
He noted that the discussions to prevent bankruptcy became “not just a method to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Talks
During tense discussions, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only the country's future and the punishing cutbacks required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the punitive conditions were put to a public vote, a move which threw the EU into a deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts that his former ally demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras further claimed how his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
