In a newly released autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on the turbulent period of Greece's debt drama.
A Controversial Choice
As per Tsipras's version, he selected the unorthodox economist Varoufakis as his treasury head primarily because of the latter's worldwide fame along with Varoufakis's highly compelling skills as a public orator.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis had a personal motives that included advancing his books and experimenting with his own economic models on Greece rather than truly advocating the country's economic stability.
Tsipras wrote that the negotiations to stave off insolvency were “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to prove the truth of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
At stake lay not only the country's destiny and those severe cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh conditions were put to a public vote, an action which plunged the EU into a further existential crisis.
Although the referendum was won decisively by voters who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
He further wrote that his confrontational approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were advocating Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
