In a recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed the unorthodox academic Varoufakis as the treasury head primarily due to his global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own agenda that involved advancing Varoufakis's books and experimenting with his theories using the nation instead of genuinely advocating its economic stability.
He wrote that the negotiations to stave off insolvency were “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
Critical Talks
During tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake was both Greece's destiny and the harsh austerity measures required in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a public vote, a move that threw the EU into deeper existential crisis.
Even though the referendum was won decisively by voters against austerity, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors that turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
