Within his newly released autobiography, titled Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed the maverick academic Varoufakis to be the finance minister primarily due to the latter's international reputation and his “extremely attractive” skills as a speaker.
“He was, actually, more like a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief had a personal agenda that involved promoting Varoufakis's books as well as testing out his game theories on the nation rather than genuinely fighting for its economic stability.
He explained that the negotiations to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake was both the country's future and the punishing austerity measures required in return for bailout funds from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive bailout terms were subjected to a public vote, an action which plunged the EU into deeper crisis of identity.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras also claimed that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
