Within his recently unveiled personal account, titled Ithaki, the former premier Alexis Tsipras spares no criticism as he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he selected the unorthodox economist Varoufakis to be his finance minister primarily because of his global profile along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed his own agenda that included promoting his publications as well as testing out his own game theories on the nation instead of genuinely fighting for its economic stability.
He noted how the negotiations to stave off insolvency became “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake lay not only the country's future but also the punishing cutbacks demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, the leader knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of events has been met with fury and shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
