In a newly released personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, Tsipras chose the maverick academic Varoufakis to be the finance minister mainly due to the latter's worldwide fame and his very persuasive skills as a public orator.
“In reality, he was, actually, more like a star rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own agenda that involved advancing Varoufakis's publications and testing out his economic models using Greece instead of genuinely advocating the country's financial survival.
Tsipras wrote that those talks to prevent bankruptcy became “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, Greece found itself perilously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny but also those harsh cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those against the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors which turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also claimed that his confrontational style left him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
