Within his recently unveiled personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on the turbulent period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras selected that unorthodox academic Varoufakis as the treasury head mainly because of his worldwide fame and his “extremely attractive” skills as a public orator.
“In reality, he was, actually, more like a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own agenda that involved advancing his books as well as experimenting with his own theories on Greece rather than truly advocating its economic stability.
He noted how the negotiations to stave off insolvency were “not only a method of achieving improved terms for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During volatile discussions, the country found itself perilously close to exiting the eurozone.
On the line lay not only Greece's destiny and the punishing austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a popular referendum, a move which plunged Europe into further crisis of identity.
Although the referendum was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal from creditors that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how his former ally had proved himself to be “unfit for an agreement demanding complex and sensitive handling.”
He further wrote that his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
