Within his newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that chaotic era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras selected the maverick academic Varoufakis to be the finance minister mainly because of the latter's worldwide fame along with his very persuasive abilities as a communicator.
“He was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims that his finance chief possessed a personal agenda which included promoting his books as well as testing out his economic models using the nation rather than truly fighting for its financial survival.
Tsipras explained that the talks to prevent insolvency became “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake lay both Greece's future and those punishing austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Options
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a public vote, a move that threw Europe into deeper existential crisis.
Although the vote was won decisively by voters who opposed austerity, the prime minister was forced to ignore the result and agree to a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
He also wrote that his confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The retelling of events has provoked anger along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
