In a newly released personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he reflects on that turbulent era of Greece's debt drama.
An Unconventional Choice
In Tsipras's account, Tsipras appointed the unorthodox academic Varoufakis to be the finance minister largely due to the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda that included promoting Varoufakis's publications as well as testing out his economic models using Greece instead of truly fighting for its economic stability.
Tsipras explained that the discussions to avoid insolvency were “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously close to exiting the eurozone.
At stake was not only Greece's destiny and the punishing cutbacks demanded in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also claimed how his confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
