In a freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines that turbulent era of Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, Tsipras selected that maverick economist Varoufakis as the finance minister largely because of his worldwide fame and his very persuasive abilities as a public orator.
“He was, actually, more of a star rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal motives that involved advancing his books and testing out his own economic models using Greece rather than genuinely advocating the country's financial survival.
He noted how the discussions to stave off bankruptcy were “not only a method to secure a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
Critical Negotiations
During tense negotiations, the country found itself dangerously close to exiting the eurozone.
On the line lay both Greece's destiny and those punishing cutbacks demanded in return for rescue loans from international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting 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
That summer, the punitive bailout terms were put to a public vote, a move which threw the EU into deeper existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers 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 and distributing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras further wrote that his confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
The account of history has provoked fury and shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
