Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines the chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed the unorthodox academic Varoufakis to be his treasury head mainly due to his international reputation along with his highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a star and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis possessed a personal agenda that involved advancing his publications as well as testing out his own economic models on Greece instead of genuinely fighting for the country's financial survival.
He noted how the discussions to stave off insolvency were “not only a way to secure a better deal for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense discussions, Greece came perilously close to exiting the eurozone.
On the line lay both Greece's destiny and the harsh austerity measures demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters against austerity, Tsipras was forced to reject its outcome and negotiate a bailout package from creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
He also claimed that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The account of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
