Within his recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on the chaotic period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, he appointed that maverick economist Varoufakis as his finance minister primarily due to his worldwide fame and his “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had his own motives that involved promoting Varoufakis's books and experimenting with his theories on the nation instead of genuinely advocating its financial survival.
He explained that the negotiations to prevent insolvency were “not only a way of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During tense negotiations, the country came perilously on the brink of leaving the single currency area.
At stake lay both Greece's future and the severe cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move that threw the EU into a further crisis of identity.
Even though the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras further claimed that his confrontational approach left him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for Grexit.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
