Within his freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras selected the maverick academic Varoufakis as his finance minister largely because of his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief possessed a personal agenda that included promoting Varoufakis's books as well as experimenting with his economic models using the nation instead of genuinely fighting for its economic stability.
Tsipras explained how those discussions to prevent bankruptcy became “not just a method to secure a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, the country came perilously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and the harsh austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, an action which plunged the EU into further crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, Tsipras was forced to ignore the result then negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and distributing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury along with shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
