In a recently unveiled autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the chaotic era of Greece's debt drama.
A Controversial Choice
In Tsipras's version, he selected the maverick economist Varoufakis as the treasury head mainly due to the latter's international reputation along with his “extremely attractive” skills as a speaker.
“He was, truthfully, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief had a personal motives that included advancing his publications and experimenting with his economic models using the nation rather than genuinely advocating the country's economic stability.
Tsipras explained how those talks to stave off bankruptcy became “not just a method of achieving a better deal for the country. They became a test, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously close to exiting the eurozone.
At stake was both Greece's future and the severe cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were put to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the vote was won decisively by voters against austerity, the prime minister was forced but to ignore the result and negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency and issuing coupons to pensioners, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras further claimed that his confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
