Within his freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the chaotic era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, Tsipras selected the unorthodox academic Varoufakis as his finance minister primarily because of his global profile along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis possessed a personal motives that included advancing his books and experimenting with his economic models on the nation rather than genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to avoid bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the punishing cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, the punitive bailout terms were put to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from creditors which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency and issuing coupons to retirees, Tsipras knew it was game over and asked him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive management.”
He also claimed how his aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
This account of history has provoked anger along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
