In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits the turbulent period during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head largely because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had his own agenda that included advancing his books and testing out his economic models on Greece instead of truly fighting for its economic stability.
Tsipras explained that those negotiations to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously close to leaving the single currency area.
On the line lay not only the country's future and the harsh austerity policies required in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a public vote, a move which plunged the EU into a deeper existential crisis.
Although the vote was carried decisively by those who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras also claimed how Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
