Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras selected the unorthodox economist Varoufakis to be the treasury head mainly because of the latter's global profile along with his highly compelling skills as a public orator.
“He was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had his own motives that included promoting his books and experimenting with his economic models using the nation instead of truly fighting for its financial survival.
Tsipras wrote how those talks to prevent insolvency became “not only a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to leaving the single currency area.
At stake was both the country's future but also the severe austerity measures required in return for rescue loans by international creditors.
Failed Options
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, a move that threw the EU into a deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also claimed that his aggressive style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
