Within his newly released autobiography, called Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on the chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he chose that maverick economist Varoufakis as the treasury head primarily due to his global profile and Varoufakis's very persuasive abilities when it came to public orator.
“He was, in reality, more like a star rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own agenda that involved advancing Varoufakis's books as well as testing out his own economic models using Greece rather than genuinely fighting for its financial survival.
He wrote how those talks to prevent insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Talks
Amid tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay both Greece's destiny and those harsh austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
That summer, those harsh conditions were subjected to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result and agree to a bailout package with creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further claimed that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked anger and shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
