In a newly released autobiography, called Ithaki, the former premier Alexis Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, Tsipras selected that maverick economist Varoufakis to be his finance minister largely due to the latter's international reputation along with Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief possessed a personal motives which involved advancing Varoufakis's publications and experimenting with his own theories on Greece rather than genuinely fighting for its financial survival.
He wrote that those discussions to avoid insolvency were “not just a way to secure a better deal for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, the country came dangerously close to exiting the single currency area.
On the line lay both Greece's destiny and the punishing austerity policies required in exchange for financial aid by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those harsh conditions were put to a public vote, a move that plunged the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by voters against austerity, Tsipras had little option but to ignore the result and agree to a bailout package from creditors which proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”
He further claimed how his confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
