Within his newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent period of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, he chose the maverick economist Varoufakis as the finance minister mainly because of the latter's worldwide fame along with his highly compelling abilities when it came to speaker.
“He was, in reality, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives which included advancing Varoufakis's publications and testing out his game theories on Greece instead of truly advocating its economic stability.
Tsipras wrote how the negotiations to stave off insolvency were “not only a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
During tense negotiations, the country came dangerously close to exiting the eurozone.
At stake lay both Greece's future and those severe austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Although the vote was won decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
