Within his freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras chose the unorthodox economist Varoufakis as his treasury head mainly due to the latter's international reputation and Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more like a personality rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader claims how his finance chief had his own agenda which involved advancing Varoufakis's publications as well as testing out his own economic models using the nation rather than truly advocating the country's financial survival.
He explained how those discussions to stave off insolvency became “not just a way to secure a better deal for the country. They were a test, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
Amid volatile discussions, Greece came perilously close to exiting the single currency area.
At stake was both the country's destiny and the severe cutbacks demanded in return for financial aid by international creditors.
Failed Options
Attempts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those excoriating conditions were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, Tsipras had little option to ignore the result and negotiate a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing coupons to retirees, the leader knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
This account of events has provoked fury along with shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.
