Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he revisits that chaotic era during Greece's debt drama.
A Controversial Choice
In Tsipras's account, he selected that unorthodox economist Varoufakis to be his treasury head largely due to the latter's global profile along with his “extremely attractive” skills when it came to communicator.
“He was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief had a personal agenda that included advancing Varoufakis's publications as well as experimenting with his theories on Greece rather than truly fighting for its financial survival.
He noted how those talks to stave off insolvency were “not only a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was not only Greece's future but also those harsh austerity measures demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, a move that threw Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by those against austerity, Tsipras was forced but to reject its outcome and agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
