Within his newly released autobiography, called Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on the chaotic era of Greece's debt drama.
An Unconventional Choice
In Tsipras's version, Tsipras appointed the unorthodox economist Varoufakis to be his treasury head largely because of his international reputation along with his “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis had his own agenda that included advancing Varoufakis's books as well as testing out his game theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras wrote that those discussions to stave off bankruptcy became “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself perilously on the brink of exiting the single currency area.
On the line was not only Greece's destiny and those punishing austerity measures demanded in exchange for financial aid from international creditors.
Failed Options
Efforts to secure funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Even though the vote was carried decisively by those against the cuts, the prime minister was forced to reject its outcome then agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
He also claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
This account of history has provoked anger and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
