Within his newly released autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the chaotic period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, he selected that maverick economist Varoufakis as the treasury head mainly due to his global profile along with his “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief possessed a personal agenda which included promoting Varoufakis's books and testing out his own economic models using the nation instead of genuinely fighting for the country's financial survival.
He explained that the discussions to stave off insolvency became “not just a method of achieving improved terms for Greece. They became a test, an historic chance to prove the validity of his ideas.”
Critical Negotiations
During rollercoaster discussions, Greece came perilously close to exiting the eurozone.
On the line was both the country's destiny and the punishing austerity measures required in return for rescue loans from foreign lenders.
Failed Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action that plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters against austerity, Tsipras was forced but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The account of history has been met with anger and shock among certain groups, while the former minister has kept a deafening silence on the matter.
