Within his recently unveiled autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on the chaotic era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis as his treasury head mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had his own agenda which involved advancing his books and experimenting with his own theories using Greece instead of genuinely fighting for the country's financial survival.
Tsipras noted that the discussions to avoid bankruptcy were “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country came dangerously on the brink of exiting the eurozone.
At stake lay both Greece's future but also the harsh austerity measures required in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, a move which plunged the EU into deeper crisis of identity.
Even though the vote was won resoundingly by voters against austerity, Tsipras was forced but to reject its outcome and agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has been met with anger and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
