Within his freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed the unorthodox academic Varoufakis to be his treasury head primarily because of his global profile along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, actually, more like a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed a personal motives that included advancing Varoufakis's books as well as experimenting with his own theories on Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted how those talks to avoid insolvency became “not just a method of achieving a better deal for the country. They were a test, an historic chance to prove the validity of his theories.”
Critical Talks
During rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
At stake lay not only Greece's future but also those severe austerity measures required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a public vote, an action that threw Europe into further existential crisis.
Even though the referendum was won decisively by voters against austerity, the prime minister had little option to ignore the result and negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate handling.”
Tsipras further claimed that his aggressive approach made him more and more alone with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This account of events has been met with anger along with shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
