Within his recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras chose that unorthodox academic Varoufakis to be his treasury head largely because of the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more of a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had his own motives that included promoting his books and experimenting with his game theories on Greece rather than genuinely advocating its economic stability.
He noted how those talks to prevent bankruptcy became “not only a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself perilously close to exiting the eurozone.
At stake lay not only the country's destiny and those punishing austerity policies required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, a move which threw the EU into a deeper crisis of identity.
Although the vote was carried decisively by those who opposed austerity, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors which proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts how Varoufakis had proved himself to be “unfit for an agreement demanding complex and sensitive handling.”
He further claimed that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The account of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
