Within his freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected that maverick academic Varoufakis as the treasury head largely because of his worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that involved promoting Varoufakis's books as well as testing out his economic models on the nation instead of genuinely fighting for its economic stability.
Tsipras noted how the negotiations to stave off insolvency were “not just a method of achieving improved terms for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
During tense negotiations, the country came perilously close to leaving the single currency area.
At stake was not only Greece's destiny but also the punishing austerity measures required in return for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those punitive conditions were put to a public vote, an action that plunged the EU into a further crisis of identity.
Even though the vote was carried decisively by voters against austerity, Tsipras was forced but to ignore the result then negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how his confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
