Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on the turbulent period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras chose that unorthodox economist Varoufakis to be the finance minister primarily due to his worldwide fame and his very persuasive abilities as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed his own agenda which involved advancing Varoufakis's books as well as experimenting with his own economic models using the nation instead of truly fighting for its financial survival.
Tsipras noted how the discussions to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of his ideas.”
Critical Negotiations
During tense negotiations, Greece came dangerously close to leaving the eurozone.
On the line lay not only Greece's future but also the severe austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, a move which plunged Europe into deeper crisis of identity.
Although the vote was carried decisively by voters against austerity, Tsipras had little option but to reject its outcome and negotiate a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras further claimed that Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has provoked fury along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
