Within his freshly published autobiography, named Ithaki, the former leader Alexis Tsipras does not hold back while he examines the turbulent era of Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose the maverick academic Varoufakis as the treasury head primarily because of the latter's international reputation and his “extremely attractive” abilities as a speaker.
“He was, in reality, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own motives that involved promoting Varoufakis's books as well as experimenting with his theories on the nation rather than truly fighting for its economic stability.
Tsipras noted that the talks to stave off bankruptcy were “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to prove the validity of his theories.”
High-Stakes Talks
During tense discussions, the country found itself perilously close to leaving the eurozone.
At stake was not only Greece's future and those harsh austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, those punitive conditions were subjected to a public vote, an action which threw Europe into a further crisis of identity.
Although the vote was carried decisively by those against austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts how his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
