Within his freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines that turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras chose the unorthodox economist Varoufakis to be his finance minister primarily due to the latter's international reputation along with his “extremely attractive” skills as a communicator.
“He was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal motives which included promoting Varoufakis's books and experimenting with his own theories on the nation rather than truly fighting for the country's economic stability.
He wrote that the negotiations to stave off insolvency were “not only a way of achieving improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During volatile discussions, the country came dangerously close to leaving the single currency area.
At stake was not only the country's future and those punishing austerity measures required in return for rescue loans by international creditors.
Failed Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were put to a popular referendum, an action that threw Europe into deeper existential crisis.
Although the vote was won decisively by those against the cuts, Tsipras was forced but to reject its outcome then negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
He also wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of events has provoked anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
