In a recently unveiled autobiography, called Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the chaotic era of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras chose the maverick academic Varoufakis to be his treasury head primarily because of the latter's global profile along with his very persuasive abilities when it came to speaker.
“He was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed a personal agenda that included promoting Varoufakis's publications as well as testing out his own theories on Greece rather than genuinely advocating the country's financial survival.
Tsipras wrote how those negotiations to avoid bankruptcy were “not just a way to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid volatile negotiations, Greece came dangerously close to exiting the single currency area.
At stake lay not only Greece's future and the severe cutbacks demanded in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were subjected to a popular referendum, a move which threw Europe into a further crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras was forced but to ignore the result and agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The account of events has been met with anger and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
