In a recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines the turbulent era of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected the unorthodox economist Varoufakis as his treasury head mainly due to the latter's international reputation along with his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal motives which involved promoting his books as well as testing out his own economic models using Greece rather than genuinely fighting for its economic stability.
Tsipras noted that the discussions to prevent insolvency became “not only a way to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece came perilously on the brink of leaving the eurozone.
At stake lay both Greece's future and those harsh cutbacks required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action which plunged the EU into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal from creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote that his confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
