Within his newly released autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on that turbulent period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, he selected that unorthodox economist Varoufakis to be the treasury head mainly due to his global profile and Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal motives which involved promoting Varoufakis's books as well as experimenting with his own economic models on the nation instead of truly fighting for the country's financial survival.
Tsipras noted how the negotiations to prevent insolvency became “not just a way to secure improved terms for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only Greece's destiny and the punishing austerity measures demanded in return for rescue loans by international creditors.
Failed Options
Attempts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action that threw the EU into further crisis of identity.
Although the referendum was won decisively by those against the cuts, Tsipras had little option to ignore the result then agree to a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
He further wrote that his confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
