In a freshly published autobiography, titled Ithaki, the former prime minister Alexis Tsipras does not hold back as he revisits that chaotic era of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head primarily because of his international reputation along with his highly compelling abilities as a communicator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief had his own agenda which involved promoting his books as well as experimenting with his economic models on Greece instead of truly fighting for its economic stability.
He noted that those discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Talks
During tense negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake was not only Greece's future and the severe austerity policies demanded in exchange for rescue loans by international creditors.
Failed Options
Efforts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the punitive conditions were put to a public vote, an action which threw Europe into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
