Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back as he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras chose that unorthodox economist Varoufakis to be his treasury head primarily due to the latter's global profile along with Varoufakis's highly compelling abilities as a public orator.
“He was, actually, more of a star and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own motives that involved advancing his publications and testing out his own game theories on Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained that the negotiations to stave off bankruptcy became “not only a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay both Greece's destiny but also the severe austerity policies required in return for financial aid from international creditors.
Failed Options
Efforts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were put to a public vote, a move which threw the EU into further crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further claimed how his confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
